Suppose you want to borrow 1112357 and will pay back 500


Suppose you want to borrow $11,123.57 and will pay back $500 monthly for 2 years. What is the annualized interest rate for this loan? (List your answer as a percentage without the percent sign and use two decimal places. For example, 5.14)

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Financial Management: Suppose you want to borrow 1112357 and will pay back 500
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