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a consumer decides to purchase $4,000 of furniture from a store that offers alternative payment plans to its customers. the first alternative requires immediate payment

a consumer decides to purchase $4,000 of furniture from a store that offers alternative payment plans to its customers. the first alternative requires immediate payment of $4,000. the second requires the consumer to make monthly payments of $135 for three years beginning immediately. what is the nominal annual interest rate implicit in the monthly payment

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