Note: The calculations for this question were done using Excel's RATE function.
Compute the nominal annual rate of interest on a loan of $67 000.00 repaid in semi-annual installments of $6540.00 in 11.5 years.

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The Answer of Note: The calculations for this question were done using Excel's RATE function.
Compute the nominal annual rate of interest on a loan of $67 000.00 repaid in semi-annual installments of $6540.00 in 11.5 years.

Note: the Calculations for This Question Were Done Using Excel's