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What nominal interest rate compounded monthly

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Question - You took a loan of $20,000 two years ago from your line of credit and paid off the load with a single payment of $23,551,15 today. What nominal interest rate compounded monthly did your line of credit charge?

a) 9.22%

b) 8.26%

c) 8.52%

d) 8.20%

e) 10.22%

Reference no: EM132889444

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