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A loan has an annual interest rate of 4%, paid semiannually. What is the annual...

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A loan has an annual interest rate of 4%, paid semiannually. What is the annual effective interest rate? 2% 4% 6% 8 % The payback period of a $2,250 investment, with 5 ys of economic life and $500 annual cash flow is: 4 4.5 5 5.5

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