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What is the ear of this loan for general manufacturing

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Reference no: EM133043254

Problem - General Manufacturing wants to borrow $1 million for three months. It uses its in'irentor'glr as collateral for an 11% {APR} loan under a warehouse arrangement where the warehouse fee is $12000 paid at the start of the three months. What is the EAR of this loan for General Manufacturing?

Reference no: EM133043254

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