Month-end payments of $1,450 are made to settle a loan of $123,700 in 8 years. What is the effective interest rate? % Round to two decimal places

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Q: Month-end payments of $1,450 are made to settle a loan of $123,700 in 8 years. What is the effective…

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Q: Month-end payments of $1,450 are made to settle a loan of $123,700 in 8 years. What is the effective…

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