Question: Question 15 (1 point) Use the following information to answer 14 and 15. You borrow $25,000 from the bank to buy a car. Under the

Question 15 (1 point) Use the following information to answer 14 and 15. You borrow $25,000 from the bank to buy a car. Under the terms of the loan, it will be fully amortized over 3 years, and the nominal rate of interest will be 4.8 percent, with interest paid monthly. What would be the effective rate of interest on the loan? 4.91% 4.85% 4.98% 4.8%

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