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Q8 Inch Inc. took a loan of $1,500,000 to build a new office. Calculate the quarterly compounding interest rate charged on the loan if $44,808.64

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Inch Inc. took a loan of $1,500,000 to build a new office. Calculate the quarterly compounding interest rate charged on the loan if \$44,808.64 was repaid at the beginning of every 6 months and the loan was paid off in 24 years. % Round to two decimal places

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