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What is the effective interest rate of the loan

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Question: My Hope Company is negotiating for a 4-month discounted loan for P200,000, at 12% per annum. The negotiated loan requires a 20% compensating balance. What is the effective interest rate of the loan? The response must be typed, double spaced, times new roman, font size 12 and must follow APA format.

Reference no: EM132743471

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