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What is the interest rate on this offer

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Reference no: EM133023047

Question - A retail store is offering a diamond ring for sale for 36 months at $128 per month. The retail price of the ring is $4,000. What is the interest rate on this offer?

a. 9.43%

b. 11.20%

c. 11.98%

d. 12.11%

Reference no: EM133023047

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