Your bank will lend you $2,000 for 45 days at a cost of $25 interest. What is
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Your bank will lend you $2,000 for 45 days at a cost of $25 interest. What is your annual rate of interest? What is your effective annual rate?
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Related Book For 
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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