If the regular semi-annual loan payment is 4250 dollars, Financial Management

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If the regular semi-annual loan payment is 4250 dollars

Fairfax Paint just borrowed 68,900 dollars. The terms of the loan require the company to make equal semi-annual payments forever. The first semi-annual payment is due in 6 months. If the regular semi-annual loan payment is 4,250 dollars, then what is the EAR of the loan? Answer as a rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098.

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Financial Management: If the regular semi-annual loan payment is 4250 dollars

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Financial Management: If the regular semi-annual loan payment is 4250 dollars

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