consider a five year loan of kshs 100000 at 12% inteerest payable monthly.an origination fees of 3%
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consider a five year loan of kshs 100000 at 12% inteerest payable monthly.an origination fees of 3% is charged.suppose the borrower decided to early repay the loan at end of the year three and the applicable early repayment penalty is 3% of the loan balance.Required compute the effective interest rate
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