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Calculate the effective rate of the loan

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Question - Orange Company holds a loan with an interest rate of 10.00% compounded quarterly. Calculate the effective rate of the loan.

Edward loaned $59,000 to a small business at 4.38% compounded quarterly for 1 year and 6 months. How much would the business have to repay him at the end of the period?

Kevin invested $2,000 at 1.00% per annum. Calculate the amount of interest earned for 9 months.

Reference no: EM133116903

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