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  • 15-02-2024
  • Business
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What is the annual yield rate, correct to the nearest percent, for a loan of $25,000 to be repaid by thirty-three end-of-month payments? The first payment is $700 and each subsequent payment is $25 more than the previous payment.

A) 7%
B) 8%
C) 9%
D) 10%

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