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You have two options of paying for your new dishwasher: You can either make a single payment of $400 today, or you can pay $70

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You have two options of paying for your new dishwasher: You can either make a single payment of $400 today, or you can pay $70 for the next 6 months, with the first payment made today. What is the effective annual interest rate (EAIR) of the second option

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