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A tax in the amount of $ 2,000.00 must be paid in 10 installments of $ 200.00, the first being immediately. The taxpayer has the
A tax in the amount of $ 2,000.00 must be paid in 10 installments of $ 200.00, the first being immediately. The taxpayer has the equivalent option of making the payment in cash, with a discount 5.85% on the total amount. What is the monthly interest rate implied by the tax?
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