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You borrow $16000 from your friend. Your friend asks you to
You borrow $16,000 from your friend. Your friend asks you to pay $421.34 every month for the next 4 years. What is the interest rate on this loan
1. type of problem.
2. Write formula identifying the rate and term in the factor.
3. Solve with a complete formula.
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You borrow $16000 from your friend. Your friend asks you to
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