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Question 3 A 14 year loan with monthly repayments of $609.37 has 5 years remaining. The bank is charging interest at the rate of 7.63%

Question 3 A 14 year loan with monthly repayments of $609.37 has 5 years remaining. The bank is charging interest at the rate of 7.63% pa. Show "T" interest rate per period) as a decimal correctly to FOUR decimal places. For example if your calculation shows your answer write your answer as "0.0572

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