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german
3 years ago
13

If an 11-day single payment loan has a periodic interest rate of 9.3%, what is the approximate effective interest rate of the lo

an?
Mathematics
2 answers:
svp [43]3 years ago
8 0

Answer:

1812.0% is the APEX answer. Hope this helps!!

Nastasia [14]3 years ago
7 0
Below is the answer I hope it helps:

Effective Rate per Period:
I = 9.7033%

Rate per Compounding Interval:
<span>P = 0.84545%</span><span>
</span><span>Figure the effective interest rate per period given the ostensible financing cost per period and the quantity of exacerbating interims per period.
</span>




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