What is the effective annual rate

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Reference no: EM131549297

Company ABC needs to raise funds to expand their building.

What is the effective annual rate on a loan of $200,000 if it is discounted at an 8% annual rate and it matures in 9 months?

How much does ABC need to borrow in order to obtain usable funds of $200,000?

What is the effective annual rate if you borrow the usable funds of $200,000?

Reference no: EM131549297

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