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Suppose you borrow $20,000 from your parents to buy a car. You agree to pay $407.58 per month for 60 months. What is the monthly

Suppose you borrow $20,000 from your parents to buy a car. You agree to pay $407.58 per month for 60 months. What is the monthly interest rate? 7.99% 8.21% 8.12% 8.05%

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