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given the input listed how was the output calculated (excel was used) I am having particular trouble finding out how to calculate effective borrowing cost.

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given the input listed how was the output calculated (excel was used) I am having particular trouble finding out how to calculate effective borrowing cost.

image text in transcribedimage text in transcribed
Loan Amount $865,000.00 Contractual Rate 3.125% Payments per Year 12 Loan Terms (Years) 15 Ballon Ending Balance $0.00

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