Compute the periodic rate and interest in the first period for a $2 comma 6002,600 loan with 6.56.5% APR for the following periods.a. Monthlyb. Daily (use a non-leap year)c. Quarterly (4 times a year)d. Biweekly (every 2 weeks)a. The periodic rate is nothing ____%.(Type an integer or decimal rounded to three decimal places as needed.)
Compute the periodic rate and interest in the first period for a $2 comma 6002,600 loan with 6.56.5% APR for the following periods.
a. Monthly
b. Daily (use a non-leap year)
c. Quarterly (4 times a year)
d. Biweekly (every 2 weeks)
a. The periodic rate is nothing ____%.
(Type an integer or decimal rounded to three decimal places as needed.)
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