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A $ 1 0 , 0 0 0 debt is repaid by payments of $ 8 0 0 at the end of each quarter for

A $

10, 000

debt is repaid by payments of $

800

at the end of each quarter for five years. What quarterly compounded nominal interest rate was charged on the loan? The answer is

19.86 %

but just want to know how to compute. Please no Excel.

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