interest
Question
If you borrow $4,600 at $850 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 | % |
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