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on a $10,000 loan which is paid off by 48 installments of $254 with the first payment due 1 month after receipt of the loan,
on a $10,000 loan which is paid off by 48 installments of $254 with the first payment due 1 month after receipt of the loan, the annualized rate of interest is _____% on an APR basis. Expressed at an effective compound annual rate, it is ___%
a.8.40;8.73
b.9.24;9.64
c.10.08;10.56
d.11.52;12.15
need calculation steps.
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