Rentown advertised a computer system at a cash price of $1699 and at a rent-to-own rate of
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Question:
Rentown advertised a computer system at a cash price of $1699 and at a rent-to-own rate of $129 at the beginning of each month for 24 months.
What effective rate of interest is a customer paying to acquire the computer in a rent-to-own transaction?(Do not round intermediate calculations and round your final answer to 1 decimal place.)
The effective rate: ___%
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