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Ross Land has a loan of $ 8 , 5 0 0 compounded quarterly for four years at 6 % . What is the effective

Ross Land has a loan of $

8, 500

compounded quarterly for four years at

6 % .

What is the effective interest rate for the loan?

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1

of the future value table.

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2

of the future value table.

The effective interest rate is

% . (

Round to two decimal places as needed.

)

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