Question: Problem 8-18 Effective rate under different terms [LO2] If you borrow $5,400 at $800 interest for one year, what is your effective interest rate for

Problem 8-18 Effective rate under different terms [LO2] If you borrow $5,400 at $800 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.) Effective Rate of Interest a. Annual payment % b. Semiannual payments % c.Quarterly payments % d. Monthly payments % References WorksheetProblem 8-18 Effective rate under

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