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20. You want to borrow $25,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $500, but

20. You want to borrow $25,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $500, but no more. Assuming monthly compounding, what is the highest APR you can afford on a 72 month loan

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