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Lamont borrows $315,000 to help finance the purchase of a townhouse and will be charged interest at the rate of 6.7% compounded annually. Month end
Lamont borrows $315,000 to help finance the purchase of a townhouse and will be charged interest at the rate of 6.7% compounded annually. Month end payments are set at $3150. Determine the periodic rate of interest that will be used in your calculations, give all digits displayed by your calculator
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