11. Discount Loan. A discount bank loan has a quoted annual rate of 6%. (L05) a. What...
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11. Discount Loan. A discount bank loan has a quoted annual rate of 6%. (L05)
a. What is the effective rate of interest if the loan is for 1 year and is paid off in one payment at the end of the year?
b. What is the effective rate of interest if the loan is for 1 month?
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9780073382302
6th Edition
Authors: Richard A Brealey, Stewart C Myers, Alan J Marcus
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