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ISHOW IN EXCEL 5 ) Assume a $ 5 6 , 0 0 0 . 0 0 1 5 year fully amortized fixed rate loan

ISHOW IN EXCEL

5)

Assume a $

56, 000.00 15

year fully amortized fixed rate loan with a level MONTHLY

payment of $

475.00

per month. What interest rate is being charged

(

Monthly then convert to annual

) ?

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