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You want to buy a new car worth $30,000 but you have no savings. The Finance Manager offers a loan to finance your new car

You want to buy a new car worth $30,000 but you have no savings. The Finance Manager offers a loan to finance your new car with payments of only $750 per month payable for the next 7 years, with the first payment starting at the end of the first month. What is the nominal annual interest rate you will be paying?

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