How much are the monthly payments

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Reference no: EM131937216

An investment promises to provide 420% growth over 10 years.

What is the effective annual rate of return on the investment? You are taking out a five-year loan of $12,000 with monthly payments.

The interest rate is an effective rate of 12% per year compounded annually. How much are the monthly payments?

Reference no: EM131937216

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