Question: A car valued at $ 2 1 , 5 0 0 can be purchased for 1 2 % down and monthly payments of $ 4

A car valued at $21,500 can be purchased for 12% down and monthly payments of $450 for four years. What is the nominal rate of interest compounded annually?The nominal rate of interest is % compounded annually.(Round to two decimal places as needed.)

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