A loan is repaid in seventeen level annual installments the, Ask an Expert

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A loan is repaid in seventeen level annual installments. The first payment is at the end of the first year.

The principal portion of the tenth payment is $65.85 and the interest portion is $22.21. What is the effective annual interest rate being paid on the loan.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92808561

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