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(point) Jeff has the option to purchase a couch for $1900 in cash today or by making semi-annual payments of $185.56 for the next 7

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(point) Jeff has the option to purchase a couch for $1900 in cash today or by making semi-annual payments of $185.56 for the next 7 years starting in months. Use linear interpolation to determine the interest rate that is being used? Note: When determining the upper and lower bounds for the nominal rate ) %,round to Integer percentages. Answer: %

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