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QUESTION 2 Gladys Friday borrowed $15,000 from the bank using a 10.25% add-on, one year installment loan, payable in four equal quarterly payments. What is

QUESTION 2 Gladys Friday borrowed $15,000 from the bank using a 10.25% "add-on, one year installment loan, payable in four equal quarterly payments. What is the effective annual rate of interest? O A. 15.99% OB 16.98% O C. 17.08% O D. 16.08%

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