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A lender makes a $ 1 2 , 5 0 0 loan for 9 0 days at 1 0 % interest, using a 3 6

A lender makes a $

12, 500

loan for

90

days at

10 %

interest, using a

360 -

day year what is the APR

10.14 %

8.91 %

9.86 %

10 %

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