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Youngland, Inc. is considering borrowing $30,000 for a 120-day period. The firm will repay the $30,000 principal amount plus $1,200 in interest. What is the

Youngland, Inc. is considering borrowing $30,000 for a 120-day period. The firm will repay the $30,000 principal amount plus $1,200 in interest. What is the effective annual rate of interest? Use a 360-day year

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