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Colin bought a food vending trailer worth 60000 to start selling fast food to lunch time patrons in the downtown area of the city he

Colin bought a food vending trailer worth 60000 to start selling fast food to lunch time patrons in the downtown area of the city he lives in Collin made a 12000 down payment and financed the rest with end of month payments of 550 for 8 years. What is the nominal annual rate of interest compounded monthly

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