Solution-What is the effective rate on an 10000 installment

What is the effective rate on an $10,000 installment loan with bi-monthly payments, $1,600 in interest, for 2 years?

i) 16%
ii) 7.4%
iii) 29.5%
iv) 14.8%

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Genetech has 2000000 in assets have decided to finance 30 : genetech has 2000000 in assets have decided to finance 30 with long-term financing 13 rate and 70 with short-term

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