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A company obtained a short-term loan from a bank. Information about the loan includes the following: Princpal of loan = P10,000 stated interest rate =
- A company obtained a short-term loan from a bank. Information about the loan includes the following:
Princpal of loan = P10,000
stated interest rate = 10%
terms= 1 year
If the loan is add-on interest, what is the effective rate?
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Investments
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
10th edition
77861671, 978-0077861674
