Billy North loaned $2,250 to his former college roommate, Jerold Weinsted. Jerold agreed to repay the principal in three monthly installments of $750 each. Billy charged interest at 0.5% (monthly rate) on the unpaid balance each month. Complete the North-Weinsted loan payment schedule. Then, use the North-Weinsted loan payment schedule to solve the effective rate problem.] ![Billy North loaned $2,250 to his former college roommate, Jerold Weinsted. Jerold agreed to repay the principal in three monthly installments of $750 each. Billy charged interest at 0.5% (monthly rate) on the unpaid balance each month. Complete the North-Weinsted loan payment schedule. Then, use the North-Weinsted loan payment schedule to solve the effective rate problem.]](https://d2lvgg3v3hfg70.cloudfront.net/TB3463/11eaab04_e8ad_6d93_acdb_4f74b60fc3cc_TB3463_00.jpg)
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