What is the annual percentage rate on the loan

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Reference no: EM13870726

Assume that you deposit $700 every three months at 6% annual rate, compounded quarterly. How much will you have at the end of 20 years? You borrow a five year $13,000 loan with monthly payments of $250. What is the annual percentage rate (APR) on the loan? Show your work.

Reference no: EM13870726

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