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A retail store is offering a diamond ring for sale for 36 months at $128 per month. The retail price of the ring is $4,000.
A retail store is offering a diamond ring for sale for 36 months at $128 per month. The retail price of the ring is $4,000. What is the interest rate on this offer?
| 9.43% | ||
| 11.20% | ||
| 11.98% | ||
| 12.11% |
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