Question: Today, Jack borrows $5,000. He will repay it in 60 monthly instalments of $150 commencing today. The nominal annual interest rate can be determined using

Today, Jack borrows $5,000. He will repay it in 60 monthly

Today, Jack borrows $5,000. He will repay it in 60 monthly instalments of $150 commencing today. The nominal annual interest rate can be determined using which of the following? Select one: a. =RATE(60,-150,5000,0,0) b. =RATE(60,-150,5000,0,1) C. =RATE(60,-150,5000)*12 d. =RATE(60,-150,5000,0,1)*12

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