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Your bank will lend you $ 4 , 8 0 0 for 6 0 days at a cost of $ 9 0 interest. a .
Your bank will lend you $ for days at a cost of $ interest.
a What is your annual rate of interest?
b What is your effective annual rate?
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Investments
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
7th Edition
007331465X, 978-0073314655
