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Red Lizard Construction just borrowed $57,100.00. The terms of the loan require the company to make equal monthly payments forever. The first monthly payment is
Red Lizard Construction just borrowed $57,100.00. The terms of the loan require the company to make equal monthly payments forever. The first monthly payment is due in 1 month. If the regular monthly loan payment is $552.97, then what is the EAR of the loan?
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A Survey of Mathematics with Applications
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
10th edition
134112105, 134112342, 9780134112343, 9780134112268, 134112261, 978-0134112107
