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Find the effective interest rate for a loan for four years

Question: 1. Find the effective interest rate for a loan for four years compounded semiannually at an annual rate of 2%. Use the table method

2. What is the effective interest rate for a loan of $5,000 at 10% compounded semiannually for three years? Use the simple interest formula method.

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Mathematics: Find the effective interest rate for a loan for four years

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Mathematics: Find the effective interest rate for a loan for four years

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