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Suppose you purchase a set of living room furntiure for $1700. You pay 20% down and sign a contract to repay the balance in 18 equal monthly payments....

Suppose you purchase a set of living room furntiure for $1700. You pay 20% down and sign a contract to repay the balance in 18 equal monthly payments. The finance charge on the balance is 7% simple interest. Estimate the annual percentage rate (APR) to the nearest tenth of a percent.
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