Travel Fridge, Inc. borrows $45,000 from the bank for one year at an annual rate of 8%

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Travel Fridge, Inc. borrows $45,000 from the bank for one year at an annual rate of 8% compounded quarterly. What is the effective rate of the loan?

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Real Estate Finance and Investments

ISBN: 978-0073377339

14th edition

Authors: William Brueggeman, Jeffrey Fisher

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Posted Date: Apr 05, 2024 12:13 AM

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Travel Fridge, Inc. borrows $45,000 from the bank for one year at an annual rate of 8%

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The effective rate of the loan can be calculated usi... View the full answer

Real Estate Finance and Investments

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