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What is the effective rate of interest if the loan is

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Kenneth's Arrows and Bows borrow $15,000 for one year at 8 percent interest. What is the effective rate of interest if the loan is discounted?

Reference no: EM13970181

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What is the effective rate of interest if the loan is : Kenneth's Arrows and Bows borrow $15,000 for one year at 8 percent interest. What is the effective rate of interest if the loan is discounted?
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