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What is the nominal annual rate on the loan

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Reference no: EM132740535

Problem1 : A loan of $8000 is repaid in 27 months with $333 end-of-month payments. What is the nominal annual rate, compounded semi-annually, on this loan?

Select one:

a. 2.904977%
b. 10.241064%
c. 1.706844%
d. 10.462065%

Reference no: EM132740535

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