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Note: the Calculations for This Question Were Done Using Excel's

Question 71

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Note: The calculations for this question were done using Excel's RATE function.
What is the rate of interest compounded quarterly if a loan of $31 500.00 is repaid in seven years by payments of $2712.00 made at the end of every six months?

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Nper 14
Pmt -2712.00
PV 31500....

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