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QUESTION 30 Your child's orthodontist offers you two alternative payment plans. The first plan requires a $4.500 immediate up-front payment. The second plan requires you

QUESTION 30 Your child's orthodontist offers you two alternative payment plans. The first plan requires a $4.500 immediate up-front payment. The second plan requires you to make monthly payments of S137.41, payable at the end of each month for 3 years. What nominal annual interest rate is built into the monthly payment plan? 4.6.23% 1.6.50% Cc7.13% d. 5.4% 5.00%

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