Mathematics, 19.11.2020 06:20, memeE15

In the previous question, we determined that if you borrow $3,000 on an 8% discounted loan for 9 months, the amount you actually receive will be $2,820. Given this, what is the effective interest rate on the loan you receive? Express your answer as a percentage rounded to the nearest tenth of a percent if necessary, but do not include the percent sign.

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In the previous question, we determined that if you borrow $3,000 on an 8% discounted loan for 9 mon...