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8. What is the effective annual rate (EAR) on a discounted loan of $9,000 if the loan has 16% annual percentage rate (APR) and it

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8. What is the effective annual rate (EAR) on a discounted loan of $9,000 if the loan has 16% annual percentage rate (APR) and it matures in three months? Also, how much must you request from this discounted loan in order to obtain usable funds of $9,000? Show your calculations

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