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Joshua borrowed $500 for one year and paid $50 in interest. The bank charged him a service charge of $5. If Joshua paid the $500

Joshua borrowed $500 for one year and paid $50 in interest. The bank charged him a service charge of $5. If Joshua paid the $500 in 12 equal monthly payments, what is the APR? (Enter your answer as a percent rounded to 1 decimal place.) APR %

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