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Find effective rate of interest

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Reference no: EM132690991

Rentown advertised a computer system at a cash price of $1699 and at a rent-to-own rate of $129 at the beginning of each month for 24 months.

What effective rate of interest is a customer paying to acquire the computer in a rent-to-own transaction? (Do not round intermediate calculations and round your final answer to 1 decimal place.)

Reference no: EM132690991

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