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A local finance company will loan $8,000 to a home-owner. It is to be repaid in 24 monthly payment of $498 each. The first payment

A local finance company will loan $8,000 to a home-owner. It is to be repaid in 24 monthly payment of $498 each. The first payment is due 30 days after the $8,000 is received. What interest rate per month are they charging?

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