Question: Picabo Street borrows $1000. Torepay the amount she makes 12 equal monthly payments of $90.30. Determine the following: (a) The effective monthly interest rate (b)

Picabo Street borrows $1000. Torepay the amount she makes 12 equal monthly payments of $90.30. Determine the following:

(a) The effective monthly interest rate

(b) The nominal annual interest rate

(c) The effective annual interest rate

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