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Question 7 3 pts If you borrow $20,000 as a five-year loan from the bank and the bank requires you to make end-of-month payments of
Question 7 3 pts If you borrow $20,000 as a five-year loan from the bank and the bank requires you to make end-of-month payments of $400.00 to pay off this loan in five years, what is the annual interest rate on this loan assuming that interest is compounded semi-annually. (answer in the form of ####.00 -no commas. two decimals, no percentage sign)
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Public Finance In Theory And Practice
Authors: Richard Abel Musgrave, Peggy B. Muscrave
5th Edition
0070441278, 978-0070441279
