Question: A table saw costs $175 at a local store. You may either pay cash for it or pay $35 now and $12.64 a month for

A table saw costs $175 at a local store. You may either pay cash for it or pay $35 now and $12.64 a month for 12 months beginning 30 days hence. If you choose the time payment plan, what nominal annual interest rate will you be charged?

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