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Question 28 0.5 pts Myron Scholes asks for a $18,000 loan for one ar. The bank tells him that it will give him $16,125 (deducts

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Question 28 0.5 pts Myron Scholes asks for a $18,000 loan for one ar. The bank tells him that it will give him $16,125 (deducts the $1,875 interest upfront). What is the effective rate of interest on this loan? 10.10 percent 11.63 percent None of the options is correct 14.94 percent 13.00 percent

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