What is the nominal interest rate compounded monthly if a four-year loan of $6000 is repaid by

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What is the nominal interest rate compounded monthly if a four-year loan of $6000 is repaid by end-of-month payments of $144.23?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:57 AM

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What is the nominal interest rate compounded monthly if a four-year loan of $6000 is repaid by

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Nominal Monthly interest rate can be calculated by using following formula Pr...View the full answer

Contemporary Business Mathematics with Canadian Applications

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