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Illinois Heart Hospital purchased and received an order of $27,950.50 worth of Personal Protective Equiqment (PPE) one (1) week before Valentine's Day from Good Samaritan

Illinois Heart Hospital purchased and received an order of $27,950.50 worth of Personal Protective Equiqment (PPE) one (1) week before Valentine's Day from Good Samaritan Medical Equipment Supply, Inc. The invoice stated the terms of payment as 3.5/7 net 21. Calculate the approximate interest rate for this purchase of desperately needed PPE. 

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