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With a price of $1,500 and credit terms of 2/15 net 45 , what is the effective annual rate? Assume 30 days in a month.

With a price of $1,500 and credit terms of 2/15 net 45 , what is the effective annual rate? Assume 30 days in a month. Your answer should be in decimal format; rounded to 4 places. Your

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