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papahomer papahomer
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7 years ago
A firm will borrow $1 million for six months on a discount basis. The annual interest rate on the loan is 6%. What is the annual percentage cost of the loan?
A) 5.64%
B) 6.38%
C) 3.19%
D) 6.00%
Textbook 
Financial Management: Principles and Applications

Financial Management: Principles and Applications


Edition: 13th
Authors:
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LutionalLutional
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papahomer Author
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7 years ago
Just got PERFECT on my quiz
decibul
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Yesterday
Smart ... Thanks!
Gamiung3657
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2 hours ago
Brilliant ツ
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