Question: Sol Pine borrows $6,500 for one year at 8 percent interest. Whatis the effective rate of interest if the loan is discounted? Note:Use a 360-day

Sol Pine borrows $6,500 for one year at 8 percent interest. Whatis the effective rate of interest if the loan is discounted? Note:Use a 360-day year. Do not round intermediate calculations. Inputyo 2 answers

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