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You have the option to prepay for your car insurance for the year. Your insurance is $2,160 annual ($180 at the end of the month),

You have the option to prepay for your car insurance for the year. Your insurance is $2,160 annual ($180 at the end of the month), or 12% discount if paid today. What is the rate implicit in the deal?

A. 19.9% B. 24.3% C. 29.0%

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