A rabbit hutch for a large doe and her litter sells for a cash price of...
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A rabbit hutch for a large doe and her litter sells for a cash price of $37.50 or $8.00 down and six monthly payments of $5.25. What is the actual rate of interest on the installment plan? A rabbit hutch for a large doe and her litter sells for a cash price of $37.50 or $8.00 down and six monthly payments of $5.25. What is the actual rate of interest on the installment plan?
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