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Company ABC is offered a 6-month loan of $35,000 from Bank DEF. The nominal interest rate is 11% p.a. and interest is to be paid
Company ABC is offered a 6-month loan of $35,000 from Bank DEF. The nominal interest rate is 11% p.a. and interest is to be paid at the beginning of the loan. The effective interest rate of the loan will be 5.82% p.a. The effective interest rate of the loan will be 11.00% p.a. The effective interest rate of the loan will be 11.64% p.a. The effective interest rate of the loan will be 23.28% p.a
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