Business, 01.01.2021 21:10 ssollers

A bank offers to lend you $10,000 for 1 year on a loan contract that calls for you tomake interest payments of $50.00 at the end of each month and then pay off theprincipal amount at the end of the year. What is the effective annual rate on the loan

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A bank offers to lend you $10,000 for 1 year on a loan contract that calls for you tomake interest p...