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Question 7 (1 point) If Sally decides to buy a car costing $ 20,000, and agrees to make 48 equal monthly payments of $ 455.17

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Question 7 (1 point) If Sally decides to buy a car costing $ 20,000, and agrees to make 48 equal monthly payments of $ 455.17 (with interest compounded monthly), what is the annual rate of interest she is paying? 1) 5.0 % 2) 4.4 % 3) 3.3 % O4) 2.9% O 5) 2.4 %

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