Ez money who owns a chain of nightclubs needs to borrow, Business Economics

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Ez money who owns a chain of nightclubs needs to borrow

E.Z. Money, who owns a chain of nightclubs, needs to borrow $20,000 to remodel the local dive. Imam Shark offers to loan the $20,000 to Money for 24 months. Money must make monthly payments of $1118. Determine the loan's (a) monthly interest rate and (b) effective annual interest rate.

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Business Economics: Ez money who owns a chain of nightclubs needs to borrow

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Business Economics: Ez money who owns a chain of nightclubs needs to borrow

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