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3. (10 pts) I bought an item for $2,899.694. I did not have the money at the time so the buyer told me I could

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3. (10 pts) I bought an item for $2,899.694. I did not have the money at the time so the buyer told me I could make 3 easy payments $1,000. The first now and then at the end of each of the next 2 years. What was the effective annual interest rate I was charged

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