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What is the monthly interest rate on this loan

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Question - The Rock wants to put in the work and hours to take what's his, so he is investing in two new middle market workout supplements that he is rebranding to be called Drive and Power. He is going to take out a loan for $8,600,000 to ensure these brands' succeed and he will make payments of $400,000 every month for 3 years at the end of the month to pay off the loan completely. What is the monthly interest rate on this loan?

Reference no: EM133064561

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