Multiple Choice
Your father loans you $12,000 to make it through your senior year. His repayment schedule requires payments of $1401.95 at the end of year for the next 15 years. What interest rate is he charging you?
A) 7.5%
B) 8.0%
C) 8.5%
D) 7.0%
Correct Answer:

Verified
Correct Answer:
Verified
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