Question: 6. You want to borrow $36,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $750, but

6. You want to borrow $36,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $750, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan

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