Inch Inc. took a loan of $1,350,000 to build a new office. Calculate the quarterly compounding interest

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Inch Inc. took a loan of $1,350,000 to build a new office. Calculate the quarterly compounding interest rate charged on the loan if $44,136.87 was repaid at the beginning of every 6 months and the loan was paid off in 21 years.

Round to two decimal places.

Related Book For answer-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Posted Date: May 25, 2023 03:33 AM

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Inch Inc. took a loan of $1,350,000 to build a new office. Calculate the quarterly compounding interest

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To calculate the quarterly compounding interest rate charged on the loan we can use the formu... View the full answer

Business Mathematics In Canada

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