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Use a calculator for this exercise. Chuong Ngo borrows$2100from a bank that advertises a8%simple interest rate and repays the loan inthreeequal monthly payments. Estimate the

Use a calculator for this exercise.

Chuong Ngo borrows$2100from a bank that advertises a8%simple interest rate and repays the loan inthreeequal monthly payments. Estimate the APR. Round to the nearest tenth of a percent. Use the Approximate Annual Percentage Rate Formula.

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