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Soundwave Company could purchase a delivery truck by paying $80,000 cash now or by paying $28,000 at the end of each of the next four
Soundwave Company could purchase a delivery truck by paying $80,000 cash now or by paying $28,000 at the end of each of the next four years. The implied annual interest rate (to the nearest percent) is (a)20%. (b)15%. (c)14%. (d)16%.
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