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The Elbow Corporation is computing the annual percentage rate

Customer Question

The Elbow Corporation is computing the annual percentage rate of interest on its most recent borrowing of $10,000. The note carried a nominal interest rate of 10% and provided net proceeds to Elbow Corporation of $9,500 after reduction for documentary stamps and loan origination fees. The annual percentage rate of interest is
Submitted: 6 years ago.
Category: Homework
Expert:  Neo replied 6 years ago.
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