Nazir just borrowed 48,200 dollars.He plans to repay this loan by making equal quarterly payments of 2,404.9

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Nazir just borrowed 48,200 dollars.He plans to repay this loan by making equal quarterly payments of 2,404.9 dollars for 29 quarters.If he makes his first quarterly payment later today, then what is the quarterly interest rate on the loan?Answer as arate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098.

Posted Date: May 18, 2024 01:11 PM

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Nazir just borrowed 48,200 dollars.He plans to repay this loan by making equal quarterly payments of 2,404.9

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