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If Gims Calore Inc decided to take out a one-year. $300,000, add on interest loan payable in 12 ond-of-month installments from National City Bank at

If Gims Calore Inc decided to take out a one-year. $300,000, add on interest loan payable in 12 ond-of-month installments from National City Bank at a nominal rate of 9% What is its effective annual rate of the loan? 16.22% 9,89% 9.38% 17.48%

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