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Business, 26.06.2020 16:01 jamilamiller200

Your child's orthodontist offers you two alternative payment plans. The first plan requires a $4,000 immediate up-front payment. The second plan requires you to make monthly payments of $137.41, payable at the end of each month for 3 years. What nominal annual interest rate is built into the monthly payment plan? a. 12.31%

b. 12.96%

c. 13.64%

d. 14.36%

e. 15.08%

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Your child's orthodontist offers you two alternative payment plans. The first plan requires a $4,000...

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