Question: please show formula and clear solutions. round off answer to two decimal places Question 11 of 12 Month-end payments of $1,480 are made to settle

please show formula and clear solutions. round off answer to two decimal places

Question 11 of 12 Month-end payments of $1,480 are made to settle a loan of $162,400 in 10 years. What is the effective interest rate? Round to two decimal places

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