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You want to borrow $65,000 from your local bank to buy a new sailboat . You can afford to make monthly payments of $1,320, but

You wanttoborrow$65,000 fromyour local banktobuyanew sailboat.You can affordtomake monthly paymentsof $1,320,but no more.Assuming monthly compounding, what is thehighest APR you can affordon a60-month loan

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