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4 . A consumer loan requires monthly payments, in equal amounts, $ 7 0 0 . 0 0 . The next payment is due in

4 .

A consumer loan requires monthly payments, in equal amounts, $

700.00 .

The next payment is due in one month. Assume that the appropriate discount rate is

21 % (

APR

) .

What is the effective annual rate? answer for me on spreadsheet on excel

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