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2. A loan is to be repaid with 60 level monthly payments. The outstanding loan balance right after the 26th payment is 6115.79, and the

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2. A loan is to be repaid with 60 level monthly payments. The outstanding loan balance right after the 26th payment is 6115.79, and the outstanding loan balance right after the 43rd payment is 3217.97. (a) Find the interest rate as an annual nominal rate compounded monthly. (b) Find the size of the monthly payments. 2. A loan is to be repaid with 60 level monthly payments. The outstanding loan balance right after the 26th payment is 6115.79, and the outstanding loan balance right after the 43rd payment is 3217.97. (a) Find the interest rate as an annual nominal rate compounded monthly. (b) Find the size of the monthly payments

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