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End-of-month payments of $1,580 are made to settle a loan of $155,340 in 9 years. What is the effective interest rate? Select the correct answer.
End-of-month payments of $1,580 are made to settle a loan of $155,340 in 9 years. What is the effective interest rate? Select the correct answer. No work needs to be shown. a.) 25.44% b.)0.18% c.)2.12% c.)3.50%
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