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Business, 25.12.2021 07:10 Selen13

Data Back-Up Systems has obtained a $, -day bank loan at an annual interest rate of %, payable at maturity. (Note: Assume a 365-day year.) a. How much interest (in dollars) will the firm pay on the -day loan? b. Find the -day rate on the loan. c. Annualize your result in part b to find the effective annual rate for this loan, assuming that it is rolled over every days throughout the year under the same terms and circumstances.

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