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A local rent to own company has a special where you can own a new couch worth $1000 by making payments of only $99 per

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A local rent to own company has a special where you can own a new couch worth $1000 by making payments of only $99 per month for 15 months. What is the EFFECTIVE annual rate of interest that you would be paying if you decided to agree to make the 15 monthly payments

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