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unfermline Credit Corp. wants to earn an effective annual return on its consumer loans of 1 5 % per year. ompounding on its loans. What

unfermline Credit Corp. wants to earn an effective annual return on its consumer loans of 15% per year. ompounding on its loans. What interest rate is the bank required by law to report to potential borrowers? ot round intermediate calculations. Round the final answer to 2 decimal places.)
terest rate
15.89%
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