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Brief Exercise 6-16 Table 6-4 PV of an Ordinary Annuity (Multiple Sums) John Taylor is settling a $19,570 loan due today by making 6 equal

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Brief Exercise 6-16 Table 6-4 PV of an Ordinary Annuity (Multiple Sums) John Taylor is settling a $19,570 loan due today by making 6 equal annual payments of S4,625.89. Determine the interest rate on this loan, if the payments begin one year after the loan is signed

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