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Answer is Oprion C.Can someone please show the working in excel,using Rate function,how to arrive at the answer? 19 Old MacDonald buys a tractor priced

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Answer is Oprion C.Can someone please show the working in excel,using Rate function,how to arrive at the answer?

19 Old MacDonald buys a tractor priced $268,000 and makes a down payment of $10,000. Determine the monthly rate of interest, if the loan term is 15 years and the monthly payment is $2,042. (Select the nearest value) a. 4.20% b. 3.50% *c. 0.42% d. 0.34%

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