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Find the annual percentage rate

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Reference no: EM131623231

Question: An electric mixer was purchased on the installment plan for a down payment of $60 and 11 monthly payments of $11.05 each. The cash price was $170. Find the annual percentage rate.

2. A computer was purchased by paying $50 down and 24 monthly payments of $65 each. The cash price was $1,400. Find the annual percentage rate to the nearest tenth of a percent.

Reference no: EM131623231

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