You recently purchased a new sectional sofa from Steve's Fine Furniture. The price of the deal was $ 4,500 with the option of an extra $ 500 off the list price or no payment for two years. What is the effective interest rate of this deal?

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The Answer of You recently purchased a new sectional sofa from Steve's Fine Furniture. The price of the deal was $ 4,500 with the option of an extra $ 500 off the list price or no payment for two years. What is the effective interest rate of this deal?

You Recently Purchased a New Sectional Sofa from Steve's Fine