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Homework answers / question archive / If you borrow $6,100 at $510 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

If you borrow $6,100 at $510 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

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If you borrow $6,100 at $510 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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