You borrow 70000 the annual loan payments are 869006 for 30


Effective interest rate

You borrow $70,000; the annual loan payments are $8,690.06 for 30 years. What interest rate are you being charged? Round your answer to two decimal places.

 

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Finance Basics: You borrow 70000 the annual loan payments are 869006 for 30
Reference No:- TGS0599539

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