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Your child's orthodontist offers you two alternative payment plans. The first plan requires a $4,400...

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Accounting

Your child's orthodontist offers you two alternative payment plans. The first plan requires a $4,400 immediate up-front payment. The second plan requires you to make monthly payments of $144.09, payable at the end of each month for 3 years. What nominal annual interest rate is built into the monthly payment plan?
a.19.09%
b.11.02%
c.5.64%
d.11.69%
e.8.70%
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