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Month-end payments of $1,570 are made for 10 years to settle a loan of $173,300. What is the effective interest rate charged on this loan?
Month-end payments of $1,570 are made for 10 years to settle a loan of $173,300. What is the effective interest rate charged on this loan?
______% Round to two decimal places
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
7th Edition
013213683X, 978-0132136839
