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A loan of $24,000 is to be repaid by payments of $2, 100 every year for 15 years. Calculate the annual nominal rate of interest

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A loan of $24,000 is to be repaid by payments of $2, 100 every year for 15 years. Calculate the annual nominal rate of interest on the loan. Suppose that the accumulation is governed by compound interest and the annual effective rate of interest in the k- th year is .05 + .03k. Find 051 and S

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