Month end payments of $ 1 , 4 8 0 are made to settle a loan of $ 1 2 6 , 1 8 0 in 8 years What is the effective interest rate

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Month - end payments of $ 1 , 4 8 0 are made to settle a loan of $ 1 2 6 , 1 8

Month

-

end payments of $

1, 480

are made to settle a loan of $

126, 180

8

years. What is the effective interest rate?

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