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10) If you borrow $7,200 at $750 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers

10)

If you borrow $7,200 at $750 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.)

	Effective Rate of Interest
a.Annual payment	%
b. Semiannual payments	%
c.Quarterly payments	%
d. Monthly payments	%

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