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What is the effective annual rate of interest associated

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Problem 1: L. Shark is willing to lend you $10,000 for six months. At the end of six months, L. Shark requires you to repay $10,000, plus 50%. What is the effective annual rate of interest associated with L. Shark's lending activities?

Option 1: 50%
Option 2: 100%
Option 3: 125%
Option 4: 150%

Reference no: EM132773638

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