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A debt of $7,866.31 including $586.31 interest was repaid after 15 months. What quarterly compounded rate of interest was charged? 5.79% 6.24% 6.25% 5.83%

A debt of $7,866.31 including $586.31 interest was repaid after 15 months. What quarterly compounded rate of interest was charged?

5.79%

6.24%

6.25%

5.83%

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