Question: The amount owed on a promissory note for $950 after two years and eight months is $1165.79. What monthly compounded nominal rate of interest was

The amount owed on a promissory note for $950 after two

The amount owed on a promissory note for $950 after two years and eight months is $1165.79. What monthly compounded nominal rate of interest was charged on the debt? 6.873% compounded monthly 5.914% compounded monthly 7.701% compounded monthly 6.352% compounded monthly

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