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Old MathJax webview Paymaster Enterprises has arranged to finance its seasonal working capital needs with a short term bank loan. The loan will carry a

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Paymaster Enterprises has arranged to finance its seasonal working capital needs with a short term bank loan. The loan will carry a rate of 0.076 per anum paid in advance (discounted). If Paymaster plans to borrow $950000 for a period of 8 months, what is the cost of the loan.

its in dollars

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