To repay a $1000 loan, a man paid $91.70 at the end of each month for 12

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To repay a $1000 loan, a man paid $91.70 at the end of each month for 12 months. Compute the nominal interest rate he paid.

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Engineering Economic Analysis

ISBN: 9780195168075

9th Edition

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

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Question Posted: May 24, 2016 06:58 AM

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To repay a $1000 loan, a man paid $91.70 at the end of each month for 12

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Engineering Economic Analysis

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