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Explain how to solve either by hand or using a calculator 32. Which is the annual loan constant (K) calculated monthly for a loan with

Explain how to solve either by hand or using a calculator

image text in transcribed 32. Which is the annual loan constant (K) calculated monthly for a loan with a 4% interest rate for a 5 years' term with a 25 -year amortization? Round to Hundredths. (A) 0.0269k (B) 0.0573k (C) 0.0633k (D) None of the Above

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