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Question 15 (6 points) You have borrowed form a bank at 12% for $15,000 rate for 1 year, you should keep 1000 in the bank

Question 15 (6 points) You have borrowed form a bank at 12% for $15,000 rate for 1 year, you should keep 1000 in the bank in the bank, so what is the effective interest rate? O 12.86% O none of them O 13.84% 14%

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