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Key Enterprises borrows $12,000 for a short-term purpose. The loan will be repaid after 120 days, with Key paying a total of $12,400. What is
Key Enterprises borrows $12,000 for a short-term purpose. The loan will be repaid after 120 days, with Key paying a total of $12,400. What is the approximate cost of credit using the APR , or annual percentage rate, calculation? Answer 3.33% 4.00% 10.00% 11.75%
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