Sarah bought a lawnmower for $320. She signed up for the buy now pay later plan at the store with the following conditions: $100 down and payments of $25 for the next 12 months. The extra cost paid by taking this plan is equivalent to what actual yearly rate of interest? A. 85%
B. 65%
C. 67%
D. 25%
Student Answer: D
Answer: Incorrect
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