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show work A. Johnson just borrowed $3,600. He plans to repay this loan by making equal quarterly payments of $274.78 for 5 years. If he
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A. Johnson just borrowed $3,600. He plans to repay this loan by making equal quarterly payments of $274.78 for 5 years. If he makes his first quarterly payment in 3 months from today, then what is the quarterly interest rate on Johnson's loan?
A. 4.03% (plus or minus .02 percentage points) B. 4.42% (plus or minus .02 percentage points) C. 4.98% (plus or minus .02 percentage points) D. 4.76% (plus or minus .02 percentage points) E. None of the above is within .02 percentage points
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