The Premier Car Title Loan Company makes emergency loans of up to $500 for 1 month for

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The Premier Car Title Loan Company makes emergency loans of up to $500 for 1 month for a fee of 4% of the loan amount. If a person borrows $500, what is

(a) The nominal interest rate per year, and

(b) The effective rate per year?

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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Question Posted: Dec 24, 2018 07:51 AM

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The Premier Car Title Loan Company makes emergency loans of up to $500 for 1 month for

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Engineering Economy

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