Posted: March 3rd, 2017

On August 1, 201, Colombo, Co’s treasurer signed a note promising to pay $240,000 on December 31, 2010. The proceeds of the note were $232,000.

On August 1, 201, Colombo, Co’s treasurer signed a note promising to pay 0,000 on December 31, 2010. The proceeds of the note were $232,000.
Calculate the effective interest rate (APR) on the loan.

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