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Assume that interest is the only finance charge. Use financial calculator to answer the questions. How much interest would be paid on a $6,000 installment

Assume that interest is the only finance charge. Use financial calculator to answer the questions. How much interest would be paid on a $6,000 installment loan to be repaid in 36 monthly installments of $199.60? Round the answer to 4 decimal places.

______% per month

What is the APR on this loan?

Round the answer to 2 decimal places. ______%

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