A debt is amortized at j4 = x%by payments of $300 per quarter.You are given that the outstanding balance is $6279.09 just after the kth payment and the outstanding balance is $6136.07 just after the (k + 1) st payment.What is x?
A) 14.30%
B) 7.22%
C) 28.88%
D) 10.00%
Correct Answer:
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