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A loan of $12,000 with interest at 12% compounded annually is amortized with quarterly installments over seven years. Which interest rate will be used in

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A loan of $12,000 with interest at 12% compounded annually is amortized with quarterly installments over seven years. Which interest rate will be used in the formula for finding the size of the quarterly payment? Select one: a 12% cross out cross out b.3% cross out G. 2.87% cross out d. 3.84% Next page TAS Previous page

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