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Al's obtained a discount loan of $78,500 today that requires a repayment of $98,000, 3 years from today. What is the APR? A. 7.68 percent

Al's obtained a discount loan of $78,500 today that requires a repayment of $98,000, 3 years from today. What is the APR?

A.

7.68 percent
B.

8.19 percent
C.

7.85 percent
D.

8.07 percent
E.

8.71 percent

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