# Math

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Loan Amount: \$15,000

Method of payment: discount basis

Amount of Interest : \$650

Term of loan: 1 year

Effective Rate of Interest (to the nearest tenth): %

• Math -

100(650/15,000) = ?

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Loan Amount: \$15,000 Method of payment: discount basis Amount of Interest : \$650 Term of loan: 1 year Effective Rate of Interest (to the nearest tenth): I tried to work this out but I got it completely WRONG !!
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