Beverly frickerson asks for a 15000 loan for one year the, Finance Basics

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Beverly frickerson asks for a 15000 loan for one year the

Question: Beverly Frickerson asks for a $15,000 loan for one year. The bank tells her that they will give her $13,050 immediately and deduct $1950 in interest up front. What is the effective rate of interest on this loan? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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