Kookiexperfect9469 Kookiexperfect9469

25-01-2024
Business

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Idlewild Bank has granted you a 7 year loan for $50,000. If your seven annual end of the year payments are $11,660.45, what is the rate of interest Idlewild is charging?

a. 14%
b. 23%
c. 12.6%
d. 11%

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