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MATH SOLVE
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Pia borrowed $12 000 for tuiLon. If the loan was compounded quarterly and paid off in 30 months with...
10 months ago
Q:
Pia borrowed $12 000 for tuiLon. If the loan was compounded quarterly and paid off in 30 months with monthly payments of $450, what was the yearly interest rate?
Accepted Solution
A:
Interest rate=28/3=9.33%