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Key Enterprises borrows $8,000 for a short-term purpose. The loan will be repaid after 90 days, with Key paying a total of $8,150. What is

Key Enterprises borrows $8,000 for a short-term purpose. The loan will be repaid after 90 days, with Key paying a total of $8,150. What is the approximate cost of credit using the APY , or annual percentage yield, calculation? A. 4.69% B. 7.50% C. 18.75% D. 1.875%

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