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Intro A commercial lender offers your company a one-year loan at an interest rate of 3.9% with annual compounding and 3 points. Part 1 Attempt

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Intro A commercial lender offers your company a one-year loan at an interest rate of 3.9% with annual compounding and 3 points. Part 1 Attempt 2/10 for 8 pts. What is the effective annual rate on the loan? 3.900% Try again Try again See solution (-2.5 pts.) Intro A commercial lender offers your company a one-year loan at an interest rate of 3.9% with annual compounding and 3 points. Part 1 Attempt 2/10 for 8 pts. What is the effective annual rate on the loan? 3.900% Try again Try again See solution (-2.5 pts.)

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