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CCB&T offers you a discount loan of $1,000 at 6% interest for one year. You pay it back on time. What is the effective or

CCB&T offers you a discount loan of $1,000 at 6% interest for one year. You pay it back on time. What is the effective or real rate of interest on this loan? (1pts) 6.38% 7.87% 5.76% 5.27%

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