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Mathematics, 08.03.2020 08:02 fansofboys

Philippa took out a $860 discounted loan for a period of m months at a simple interest rate of 6%. The amount she actually received 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 at a simple interest rate of 6%. T...

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