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You wish to borrow $ 2 , 0 0 0 to be repaid in 1 2 monthly installments of $ 1 8 9 . 1

You wish to borrow $2,000 to be repaid in 12 monthly installments of $189.12. The annual interest
rate is
A)24%.
B)8%.
C)18%.
D)12%.

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