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1)If Sluggo borrows $1000 on a 270-day, 9-month basis, and a 4% APR: a.Using simple interest calculations i.What is the PER ? ii.What is the

1)If Sluggo borrows $1000 on a 270-day, 9-month basis, and a 4% APR:

a.Using simple interest calculations

i.What is the PER?

ii.What is the EAR?

iii.What is the APR?

b.Using the discount interest calculations:

i.What is the PER?

ii.What is the EAR?

iii.What is the APR?

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