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Assume that you are going to buy a new car worth $22,000. You will be able to make a down payment of $7,000. The remaining

Assume that you are going to buy a new car worth $22,000. You will be able to make a down payment of $7,000. The remaining $15,000 will be financed by the dealer. The dealer computes your monthly payment to be $512 for 48 months of financing. What is the dealer's rate of return on this loan transaction

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