Determine the effective rate of interest per period

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In a standard Amortization Table for the repayment of a loan, the payment at the end of each period is $67.15. The amount of interest paid in the sixth payment in and the principal repaid in the tenth payment is $63.57.

a. Determine the effective rate of interest per period.

b. Determine the outstanding loan balance immediately after the fifth payment.

c. Determine the total number of payments.

d. Determine the original amount of the loan.

Reference no: EM131560194

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