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Need it step by step A loan of $15,000 is to be financed to assist in buying an automobile. On the basis of monthly compounding
Need it step by step A loan of $15,000 is to be financed to assist in buying an automobile. On the basis of monthly compounding for 42 months, the end-of-the-month equal payment is quoted as $409.61. What nominal interest rate in percentage is being charged
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