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Posted on May 18, 2024

A bank announces that it will lend 1 2 0 0 $ to be repaid in 3 0 monthlyinstallments of 6 0 $ . Calculate

A bank announces that it will lend

1200

$ to be repaid in

30

monthlyinstallments of

60

.

Calculate the effective interest rates

(

annual

) .

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