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1. Questa borrowed P100,000 from a bank a one-year 8% term loan with interest compounded monthly. What is the effective annual interest on the Joan?

2.Questa borrowed P100,000 from a bank a one-year 8% term loan with interest compounded quarterly. What is the effective annual interest on the Joan?

3.Questa borrowed P100,000 from a bank a one-year 8% term loan with interest compounded annually. What is the effective annual interest on the Joan?

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