Mathematics, 16.04.2021 04:10, 1846252
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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