Question: Key Enterprises borrows $8,000 for a short-term purpose. The loan will be repaid after 90 days, with Key paying a total of $8,150. What is

Key Enterprises borrows $8,000 for a short-term purpose. The loan will

Key Enterprises borrows $8,000 for a short-term purpose. The loan will be repaid after 90 days, with Key paying a total of $8,150. What is the approximate cost of credit using the APY,or annual percentage yield, calculation? a. 9.72% b. 19.82% c. 7.71% d. 12.36% Question 12 of 40 >>> A Moving to another question will save this response Close Window

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