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. What is the effective cost of a six-month discount loan of $100,000 with a stated rate of 8% if there are $100 in closing

. What is the effective cost of a six-month discount loan of $100,000 with a stated rate of 8% if there are $100 in closing costs due at the beginning?

a.8.34% b. 8.55% c. 8.73% d. 9.16%

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