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The cost of a 2021 BMW 228i xDrive Gran Coupe is approximately $51,000. After graduating from Sprott Business School, Greer plans to buy one of

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The cost of a 2021 BMW 228i xDrive Gran Coupe is approximately $51,000. After graduating from Sprott Business School, Greer plans to buy one of these fancy cars and decides to go the local BMW dealer. The dealership offers special financing for 5 years at 3.5% (Annual Percentage Rate, with semi-annual compounding) with monthly payments. What would be the effective monthly rate for this car loan? 0.2452% 0.1855% 0.1252% 0.2896% 2 550/

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