Consider the following monthly amortization schedule: Payment # Payment Interest Debt Payment Balance 1 996.45 750.00 216.45 149,783.55 2 996.45 748.92 217.53 149,566.02 3 996.45 With the exception of

Consider the following monthly amortization schedule: Payment # Payment Interest Debt Payment Balance 1 996.45 750.00 216.45 149,783.55 2 996.45 748.92 217.53 149,566.02 3 996.45 With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loan.

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Consider the following monthly amortization schedule: Payment # Payment Interest Debt Payment Balance 1 996.45 750.00 216.45 149,783.55 2 996.45 748.92 217.53 149,566.02 3 996.4…

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