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Section 12.5 , 8. Need answers with step by step work. Require formula please (NO EXCEL). What is the nominal annual rate of interest compounded

Section 12.5 , 8.

Need answers with step by step work. Require formula please (NO EXCEL).

What is the nominal annual rate of interest compounded quarterly if a loan of $21 500 is repaid in seven years by payments of $2000 made at the end of every six months?

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