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Chapter 7-Question 10 Your uncle lends you $2,100 less $84 (interest at 4 percent), and you receive $2,016. Use the APR formula to find the

Chapter 7-Question 10

Your uncle lends you $2,100 less $84 (interest at 4 percent), and you receive $2,016. Use the APR formula to find the true annual percentage rate. Assume you repay the entire loan in one year. (Enter your answer as a percent rounded to 3 decimal places.)

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