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A student is deciding whether to buy two 1-semester parking permits or an annual permit. Annual permit: costs $180 due August 15th Semester permit: costs

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A student is deciding whether to buy two 1-semester parking permits or an annual permit. Annual permit: costs $180 due August 15th Semester permit: costs $130 due August 15th and January 15th Cash flow diagram for the two options are given below. NDJ = ND 130 130 180 1. What is the monthly interest rate that would make these two cash flows equivalent? 2. What is the annual effective rate

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