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Answer is 10.2%. I would like to know steps needed. You are purchasing a $16,000 used automobile, which is to be paid for in 36

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Answer is 10.2%. I would like to know steps needed.

You are purchasing a $16,000 used automobile, which is to be paid for in 36 monthly installments of $517.78. What nominal interest rate (per year) are you paying on this financing arrangement

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