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Monica Fuentes purchased a new video editing equipment costing $12,000, including taxes and delivery charges. She paid a $3,000 down, and is going to pay

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Monica Fuentes purchased a new video editing equipment costing $12,000, including taxes and delivery charges. She paid a $3,000 down, and is going to pay 16 payments of $950. Find: How much interest (in percentage) did the borrower pay (I'm talking about the real interest rate)

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