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13. points If you borrow $7,500 at $550 interest for one year, what is your effective interest rate for the following payment plans? (Input your

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13. points If you borrow $7,500 at $550 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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