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A bank offers a $ 1 0 , 0 0 0 discounted loan at 4 1 2 % simple interest for 5 years. Amount of

A bank offers a $10,000 discounted loan at 412% simple
interest for 5 years.
Amount of Interest Collected =
A/
Amount of Loan Disbursed =
A)
To the nearest hundredth of a percent, the effective rate of
interest is
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