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Use a calculator for this exercise. Chuong Ngo borrows $2400 from a bank that advertises a 8% simple interest rate and repays the loan in

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Use a calculator for this exercise. Chuong Ngo borrows $2400 from a bank that advertises a 8% simple interest rate and repays the loan in four equal monthly payments. Estimate the APR. Round to the nearest tenth of a percent. Use the Approximate Annual Percentage Rate Formula. 7.1 x %

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