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If you borrow $2,000 from a bank for one year at a stated annual interest rate of 14 percent, but interest is prepaid (a discounted

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If you borrow $2,000 from a bank for one year at a stated annual interest rate of 14 percent, but interest is prepaid (a discounted loan), then what is your effective annual rate? 14.00% 8.57% 16.28% O 21.21 % 28.00%

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