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Gladys Turner borrowed $10,000 from the bank using a 9.50 percent add-on, one-year installment loan, payable in four equal quarterly payments. What is the effective
Gladys Turner borrowed $10,000 from the bank using a 9.50 percent "add-on", one-year installment loan, payable in four equal quarterly payments. What is the effective annual rate of interest?
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Small Business Finance
Authors: Confederation College
1st Edition
1552700925, 9781552700921
