Question: For the first two years, a certain loan had a continuous interest rate at 6,5%, for the next 15 months a compound interest rate at

For the first two years, a certain loan had a continuous interest rate at 6,5%, for the next 15 months a compound interest rate at 7% with quarterly-capitalisation. Finally a compound interest rate was used at 8,5% with semi-annual capitalization for the last 9 months. Please find the average effective interest rate for this loan throughout the whole period (according to compound interest rate method).

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