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You want to borrow $55,000 from your bank to buy a new Tahoe. You can afford to make monthly payments of $850, but no more.

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You want to borrow $55,000 from your bank to buy a new Tahoe. You can afford to make monthly payments of $850, but no more. Assuming monthly compounding, calculate the highest APR you can afford on a 72-month loan. (Enter percentages as decimals and round to 4 decimals)

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