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A loan of 5,000 is to be repaid by level monthly instalments in arrear over a period of five years, the flat rate of interest

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A loan of 5,000 is to be repaid by level monthly instalments in arrear over a period of five years, the flat rate of interest for this transaction being 4.7% per annum. APR of the transaction is Select one: a. 7.13% b. 9.54% O c. 6.45% O d. 5.16% e. 8.9% Clear my choice

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