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Calculate the loans annual financing cost

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Van Buren Resources Inc. is considering borrowing $100,000 for 182 days from its bank. Van Buren will pay $6,000 of interest at maturity, and it will repay the $100,000 of principal at maturity.

a. Calculat the loan's annual financing cost

b. Calculate the loan's annual percentag rate.

c. What is the reason

Reference no: EM131785056

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