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!!!URGENTTTTT HELPPP PLEASE Payments made at the end of the year for the debt borrowed...

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Accounting

!!!URGENTTTTT HELPPP PLEASE

Payments made at the end of the year for the debt borrowed for 3 years with a compound interest of 4% per month seen in the table. a) Determine the nominal interest rate. b) Determine the effective interest rate. c) Determine the amount of debt received

Year 1 2 3

Payment 1200 1000 1300

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