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A furniture store has an ad for a sofa set priced at $1500. The customer is offered the choice of making $64.74 end of month

A furniture store has an ad for a sofa set priced at $1500. The customer is offered the choice of making $64.74 end of month payments for two years. 



What is the implied interest rate the customer is being charged expressed with monthly compounding?

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The customer is making 6474 end of month payments for 2 years which is a total of 24 payme... blur-text-image

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