A local finance company will loan $10,000 to a homeowner. It is to be repaid in 24
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A local finance company will loan $10,000 to a homeowner. It is to be repaid in 24 monthly payments of $499 each. The first payment is due 30 days after the $10,000 is received. What interest rate per month are they charging? (Answer: 11/2%)
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