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You borrow $1,000 for six months at 8% annual interest rate. What is the EAR (Effective Annual Rate) for this loan? (Find the k

You borrow $1,000 for six months at 8% annual interest rate. What is the EAR (Effective Annual Rate) for this loan? (Find the k per first) 8.25 % 7.08% 8.16 % 0.06%

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