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What is the interest rate

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Question - A tire company advertises a deal of low monthly payments of $45.00 per month for 18 months for a set of new tires costing $723.21 (including tax). How much interest are you paying? What is the interest rate, assuming simple interest is applied?

a. $98.79, 8%

b. $100.79, 10%

c. $810, 10%

d. $86.79, 8%

Reference no: EM132560822

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