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Jill decides to buy a car costing $13,000. The dealership offers Jill a financing option in which she will pay $281.06 every month for 4.25
Jill decides to buy a car costing $13,000. The dealership offers Jill a financing option in which she will pay $281.06 every month for 4.25 years. What nominal annual rate of interest would Jill be charged under this financing option? Hint: Use the TVM solver to solve this problem.
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