SOLUTION: What is the annual interest rate on an $8,000 loan if the interest payments are $80 per quarter on the full amount

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Question 823790: What is the annual interest rate on an $8,000 loan if the interest payments are $80 per quarter on the full amount
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
80*4=320
320/8000=9.04=4%