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4} (2D points] A home improvement store is offering the following two payment options for a new luxury kitchen appliance bundle that costs $12,6ll. You can pay cash now or you can choose the store's installment offer equal payments payable at the end of each month starting one month from now over a Evyear period at (1% interest rate for a small monthly processing fee of t] that needs to he paid along with each monthly payment. I claim that you will end up paying an effective annual rate of approximately 9.33% if you choose the installment offer. Do you agree with me? Show work to support your