Question: Dr . Painkiller is going to borrow $ 3 , 0 0 0 for one year at 8 percent interest. What is the annual rate

Dr. Painkiller is going to borrow $3,000 for one year at 8 percent interest. What is the annual rate of interest if the loan is discounted? (Use 365 days ina year. Round the final answer to 2 decimal places.)

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