[Solved] Suppose you want to offer credit to you c

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Suppose you want to offer credit to you clients. Your bank charges 1 0 % interest on the commercial loans it provides you and interest

Suppose you want to offer credit to you clients. Your bank charges

10 %

interest on the commercial loans it provides you and interest is compounded monthly. You want to charge your customers an annual interest that is

2 %

higher than your bank charges you. What annual percentage rate should you charge your clients?

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