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(Last Word) Suppose you borrow $400 for a year and the lender discounts $30 of...

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Finance

(Last Word) Suppose you borrow $400 for a year and the lender discounts $30 of interest at the time the loan is made (giving the borrower only $370). The interest rate on this loan is about Multiple Choice 13.3 percent .7.5 percent. 8.1 percent .12.3 percent .

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