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Problem 8-4 Effective rate of interest [LO8-2] Your bank will lend you $6,900 for 40 days at a cost of $45 interest What is your

Problem 8-4 Effective rate of interest [LO8-2] Your bank will lend you $6,900 for 40 days at a cost of $45 interest What is your effective rate of interest? (Use a 360-day year. Do not round i rounded to 2 decimal places.) Effective rate %

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