Find i (the rate per period) and n (the number of periods) for the loan at the given annual rate.Annual payments of $378.80 are made for 8 years to repay a loan at 6.4% compounded annually.
A. i = 0.064; n = 16
B. i = 0.00533; n = 12
C. i = 0.064; n = 8
D. i = 0.008; n = 8
Answer: C
Mathematics
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