Question: You borrow $ 1 0 , 0 0 0 for one year from the bank. The APR is 1 0 % . You must pay

You borrow $10,000 for one year from the bank. The APR is 10%. You must pay 4 points, which the bank deducts from your loan. What is the effective interest rate?Question 17
You borrow $10,000 for one year from the bank. The APR is 10%. You must
pay 4 points, which the bank deducts from your loan. What is the effective
interest rate?
You borrow $10,000 for one year from the bank. The APR

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