If you borrow 2500 from a bank now at nominal interest rate, Financial Management

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If you borrow 2500 from a bank now at nominal interest rate

If you borrow $2,500 from a bank now, at nominal interest rate of i (annual percentage rate, APR) compounded quarterly, and if you pay to the bank a year from now $2,700 what is the value of i? What is the effect interest rate (annual percentage yield, APY)?

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Financial Management: If you borrow 2500 from a bank now at nominal interest rate

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Financial Management: If you borrow 2500 from a bank now at nominal interest rate

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