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You just bought expensive car stereo for $2,400 online at Mississippi Best store. The store offered you a choice X% discount if you pay right
You just bought expensive car stereo for $2,400 online at Mississippi Best store. The store offered you a choice X% discount if you pay right now or you can pay within six months. You can borrow money at your bank at 7.20% per annum compounded monthly.
What is the lowest X% for which you will pay the store right now?
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