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A debt of $ 1 5 , 0 0 0 must be paid in a series of equal monthly payments for 5 years. The nominal
A debt of $ must be paid in a series of equal monthly payments for years. The nominal
interest rate is compounded monthly.
The amount of each monthly payment is: S
answer to nearest dollar
The effective annual interest is:
answer to one hundredth percent
Do not include the dollar sign S or percent sign in your answer.
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