Coverall carpets inc is planning to borrow 12000 from the, Ask an Expert

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Coverall Carpets Inc. is planning to borrow 12,000 from the bank, The bank offers the choice of a 12 percent discounted interest loan ot a 10.19 percent add on, one year installments loan, payable in 4 equal quartly payments. What is the effective rate of interest on the 12 percent discounted loan?

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