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Miguel purchased a hot tub costing $5,050by taking out an installment loan. He made a down payment of $1,300 and financed the balance for 24

Miguel purchased a hot tub costing $5,050by taking out an installment loan. He made a down payment of $1,300 and financed the balance for 24 months. If the payments are $177.77each month, use the APR formula to find the APR. Round to the nearest hundredth of a percent.

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