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Aarnav just bought a new car. He financed the purchase with a $28,315.00 loan that requires him to pay $507 50 per month for the

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Aarnav just bought a new car. He financed the purchase with a $28,315.00 loan that requires him to pay $507 50 per month for the next 5 years (first payment due exactly one month from today). What is the nominal annual interest rate (ie, the pa rate) that Aarnay is being charged on this loan

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