Determining the effective interest rate

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On August 1, 201, Colombo, Co's treasurer signed a note promising to pay $240,000 on December 31, 2010. The proceeds of the note were $232,000.

Calculate the effective interest rate (APR) on the loan.

Reference no: EM1333679

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Determining the effective interest rate : On August 1, 201, Colombo, Co's treasurer signed a note promising to pay $240,000 on December 31, 2010. Compute the effective interest rate (APR) on loan.

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