Question: A car valued at $11 400 can be purchased for 10% down and end-of-month payments of $286.21 for three-and-a-half years. What is the nominal annual

A car valued at $11 400 can be purchased for 10% down and end-of-month payments of $286.21 for three-and-a-half years. What is the nominal annual rate of interest compounded monthly?

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