Mathematics, 07.10.2019 20:00 6946599268

Philippa took out a $860 discounted loan for a period of m months and the simple interest rate was 6%. the amount that was actually disbursed into her bank account was $838.50. calculate the effective interest rate of this loan, to the nearest 0.01%.

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Philippa took out a $860 discounted loan for a period of m months and the simple interest rate was 6...

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