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You want to borrow $95,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1.950, but no

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You want to borrow $95,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1.950, but no more. Assuming monthly compounding what is the highest rate you can afford on a 60-month APR loan? (Round your answer to 2 decimal places, (e.g.. 32.16)) Interest rate % References eBook & Resources Worksheet

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