Dae$-$Sung has a student loan for $$16,800\mathrm{.}00$ at an interest rate of i$(12)\%.$ The loan will be paid off with monthly payments $($at the end of each period$)$ of $$227\mathrm{.}38$ for the next $7$ years. Find i$(12).($Answer to the nearest $0\mathrm{.}1\%.)$

Question $4$Answer

a$.$

i$(12)=3\mathrm{.}4475\%.$

b$.$

i$(12)=3\mathrm{.}8075\%.$

c$.$

i$(12)=3\mathrm{.}4075\%.$

d$.$

i$(12)=3\mathrm{.}7075\%.$

e$.$

i$(12)=4\mathrm{.}0675\%$