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A bank customer is granted credit for a $2,200 loan at 10 percent to be repaid in 12 equal installments. If the loan quoted has
A bank customer is granted credit for a $2,200 loan at 10 percent to be repaid in 12 equal installments. If the loan quoted has an add-on rate, what are the nel proceeds of the loan? $2,200 $2,100 $2,000 $1,800 The answer cannot be determined from the information given
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