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OpenStudy (anonymous):
A car dealer carries out the following calculations. What is the annual percentage rate? (Round your answer to the nearest tenth.) List price $ 5,368.00 Options $ 1,625.00 Destination charges $ 200.00 Subtotal $ 7,193.00 Tax $ 431.58 Less trade-in $ 2,932.00 Amount to be financed $ 4,692.58 8% interest for 48 months $ 1,501.63 MONTHLY PAYMENT $ 129.05
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