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Gerardo Norega bought a dinette set for $500, which he paid in 12 monthly payments of $45.50. (a) What was the finance charge? $ (b)

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Gerardo Norega bought a dinette set for $500, which he paid in 12 monthly payments of $45.50. (a) What was the finance charge? $ (b) What was the APR on this sale? (Use the True Annual Interest Rate (APR) table.) %

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