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(Nonannual compounding using a calculator) Bowflex's television ads say you can get a fitness machine...

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(Nonannual compounding using a calculator) Bowflex's television ads say you can get a fitness machine that sells for $1,111 for $48.99 a month for 24 months. What APR are you paying on this Bowflex loan? The APR you are paying on the loan is %. (Round to two decimal places.)

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