What effective annual rate? is needy? paying

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Question - The Needy Corporation borrowed $14,000 from Bank Ease. According to the terms of the? loan, Needy must pay the bank $424 in interest every three months for the? three-year life of the? loan, with the principal to be repaid at the maturity of the loan. What effective annual rate? (EAR) is Needy? paying?

Reference no: EM132961556

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