if a person borrows 1245537 and agrees to pay it, Econometrics

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if a person borrows 1245537 and agrees to pay it

If a person borrows $12455.37 and agrees to pay it back in 60 monthly installments of $550.55, determine

a) effective interest rate paid (corresponding with payment frequency units).
b) nominal interest rate paid.
c) effective annual interest rate paid.

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