Question: Need help with this question please. JD Enterprises borrowed $150,000 for two years from the bank. At the end of the two years, they repaid

Need help with this question please.

Need help with this question please. JD Enterprises borrowed $150,000 for two

JD Enterprises borrowed $150,000 for two years from the bank. At the end of the two years, they repaid the loan in full with one payment of $175,000. What was the quoted interest rate on the loan? Assume the interest rate is quoted as an APR compounded monthly 5. A) B) C) D) 16.67% 7.73% 7.86% 8.33%

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