[Solved] A loan of 6,391 is subject to a flat rate

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A loan of 6,391 is subject to a flat rate of interest of 20% p.a. a) Calculate the level monthly repayments, made in arrears. [2]

A loan of 6,391 is subject to a flat rate of interest of 20% p.a. a) Calculate the level monthly repayments, made in arrears. [2] b) If the term of the repayments is 15 months, deduce the APR applying. [2]

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