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Please no excel answers. 14. Suppose you borrow $15,000 and then repay the loan by making 12 monthly payments of $1,297.92 each. What rate will

Please no excel answers. image text in transcribed

14. Suppose you borrow $15,000 and then repay the loan by making 12 monthly payments of $1,297.92 each. What rate will you be quoted on the loan? (4 marks)

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