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Business, 26.06.2020 15:01 eila3601

suppose community bank offers to lend you 10000 for one year at a nominal annual rate of 17.75% but you must make interest payments at the end of each quarter and then pay off the $10,000 principal amount at the end of the year. What is the effective annual rate on the loan

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suppose community bank offers to lend you 10000 for one year at a nominal annual rate of 17.75% but...
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