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You have just purchased a new car. to finance the purchase, you've arranged for an 18-month for 90 percent of the $30,000 purchase price. the monthly...

You have just purchased a new car. to finance the purchase, you've arranged for an 18-month for 90 percent of the $30,000 purchase price. the monthly payment on his loan will be $1,646.52. what is the effective annual rate on his loan?

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