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aguar bank advertises the 51-50 Club. A person may borrow $2,000 and repay $51 for the next 50 months, beginning 30 days after receiving the
aguar bank advertises the 51-50 Club. A person may borrow $2,000 and repay $51 for the next 50 months, beginning 30 days after receiving the money. Determine the nominal annual interest rate and effective annual interest rate for this loan.
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The Handbook Of Financing Growth
Authors: Kenneth H. Marks, Larry E. Robbins, Gonzalo Fernandez, John P. Funkhouser, D. L. Williams
2nd Edition
