2. You borrowed $1,000 at the stated interest rate of 8 percent. You pay off the loan...

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2. You borrowed $1,000 at the stated interest rate of 8 percent. You pay off the loan in one lump sum at the end of the year. What is the approximate annual percentage rate?

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Personal Finance

ISBN: 9780073530697

10th Edition

Authors: Jack Kapoor, Les Dlabay, Robert Hughes

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Question Posted: Jul 25, 2024 03:01 AM

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2. You borrowed $1,000 at the stated interest rate of 8 percent. You pay off the loan...

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Personal Finance

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