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You paid off a $19,500 loan in exactly 2 years. You paid $1000 per month. If you received the loan (i.e. - the $19,500) at

You paid off a $19,500 loan in exactly 2 years. You paid $1000 per month. If you received the loan (i.e. - the $19,500) at 'time zero' and you made monthly payments at the end of each month, what was the nominal interest rate of the loan?

Hint: Use formula for linear Interpolation

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