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- You have borrowed $135,000 from the bank today. You are required to repay this money over the next six years by making monthly payments

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- You have borrowed $135,000 from the bank today. You are required to repay this money over the next six years by making monthly payments of $2,215.10 at the end of each month. What is the quoted interest rate for the loan (with monthly compounding)? A) 5.65% B) 6.13% C) 9.63% D) 4.71% E) 6.38%

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