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Recently, you needed money and agreed to sell a car you had inherited at a price of $56,210, to be paid in monthly payments of

Recently, you needed money and agreed to sell a car you had inherited at a price of $56,210, to be paid in monthly payments of $1,500 for 42 months. What interest rate did you charge for financing the sale?

A. 7.78 percent

B. 6.84 percent

C. 7.25 percent

D. 6.50 percent

E. 8.33 percent

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