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Up-Front Bank uses discount loans for all its customers who want one-year loans. Currently, the bank is providing one-year discount loans at 8%. What is the effective annual rate on these loans? If you were required to repay $250,000 at the end of the loan for one year, how much would the bank give you on your loan at the start of the loan?

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Category:- Basic Finance
Reference No.:- M941831

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