A bank agrees to give you a loan of $12,000,000 and you have to pay $1,309,908 per year for 26 years. What is your rate of interest? What would the payments be if this were a monthly payment loan?

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The Answer of A bank agrees to give you a loan of $12,000,000 and you have to pay $1,309,908 per year for 26 years. What is your rate of interest? What would the payments be if this were a monthly payment loan?

A Bank Agrees to Give You a Loan of $12,000,000