Annual payments of $1,045 are made for 5 years to repay a loan at 4.75% compounded annually.
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In Problems, find i (the rate per period) and n (the number of periods) for each loan at the given annual rate.
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Related Book For
College Mathematics for Business Economics Life Sciences and Social Sciences
ISBN: 978-0321614001
12th edition
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
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