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Hello, i need help answering a review question. help with this is greatly appreciated. What is the effective cost of the loan for Choice 2

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Hello, i need help answering a review question. help with this is greatly appreciated.

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What is the effective cost of the loan for Choice 2 if you hold the loan for only 1 year (12 months)? O 5.155% O 6.155% 7.155% O 8.155% O

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