Question: Please provide a detailed step-by-step solution. Thank you 2) A borrower received $2,226 on a loan today. The terms of the loan require the borrower

Please provide a detailed step-by-step solution. Thank you 2) A borrower

Please provide a detailed step-by-step solution. Thank you

2) A borrower received $2,226 on a loan today. The terms of the loan require the borrower to repay $2,400 in 1 year. Compute the rate of discount on this loan

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