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You decided to buy an iPhone Pro Max, which retails for $1,099.00, with a 24-month installment loan. If your monthly payments are $54.87, what is

You decided to buy an iPhone Pro Max, which retails for $1,099.00, with a 24-month installment loan. If your monthly payments are $54.87, what is the APR you are paying? Express your answer as a percentage with 3 digits after the decimal point.

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