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5. You wish to borrow $1,200 to be repaid in 24 monthly installments of 55$. (a) What is the monthly interest rate? (b) What is
5. You wish to borrow $1,200 to be repaid in 24 monthly installments of 55$. (a) What is the monthly interest rate? (b) What is the APR of the loan? (c) What is the EAR of the loan
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