Multiple Choice
Susan's car loan payments are $265.08 at the end of each month for four years. The amount she borrowed was $12,000. What is the monthly compounded nominal interest rate?
A) 6.500%
B) 2.900%
C) 10.500%
D) 4.750%
E) 6.000%
Correct Answer:
Verified
Correct Answer:
Verified
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