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Marcela took out a $600 discounted loan with a 4% annual interest rate over a period of 8 months. What is the effective annual interest rate for the loan? Round to two decimal p…
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Marcela took out a $600 discounted loan with a 4% annual interest rate over a period of 8 months. What is the effective annual interest rate for the loan? Round to two decimal p…
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Mar 13, 2021
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Marcela took out a $600 discounted loan with a 4% annual interest rate over a period of 8 months. What is the effective annual interest rate for the loan? Round to two decimal places.
Mathematics
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Knoothe
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The answer should be $16
Timothyzhang
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Mar 20, 2021
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