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Problem 8-4 Effective rate of interest (L08-2] Your bank will lend you $2,600 for 50 days at a cost of $30 interest. What is your

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Problem 8-4 Effective rate of interest (L08-2] Your bank will lend you $2,600 for 50 days at a cost of $30 interest. What is your effective rate of interest? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Effective rate %

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