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Calculate the annual effective interest rate (EIR) of the following financing agreements for 2020. d) Green Bhd requires RM600,000 for a period of eight months.

Calculate the annual effective interest rate (EIR) of the following financing agreements for 2020. d) Green Bhd requires RM600,000 for a period of eight months. Affin Bank has offered a loan at an interest rate of 12 percent per annum. The loan is discounted and requires a compensating balance of 10 percent.

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