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You take out an installment loan to purchase a time-share costing $18,000. You make a down payment of $2,700 and finance the balance by making

You take out an installment loan to purchase a time-share costing $18,000. You make a down payment of $2,700 and finance the balance by making monthly payments of $762 for 24 months. Use Table 13-1 from your text to find the APR.

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