Calculate the quarterly compounding interest rate charged

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Reference no: EM132735734

Problem 1: Nch Inc. took a loan of $1,200,000 to build a new office. Calculate the quarterly compounding interest rate charged on the loan if $32,701.50 was repaid at the beginning of every 6 months and the loan was paid off in 23 years.

Reference no: EM132735734

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