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= Homework: Chapter 15 Homework Question 4, P15-5 (simil... Part 1 of 2 HW Score:...

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= Homework: Chapter 15 Homework Question 4, P15-5 (simil... Part 1 of 2 HW Score: 0%, 0 of 10 points O Points: 0 of 1 O Save Discount loan. Up-Front Bank uses discount loans for all its customers who want one-year loans. Currently, the bank is providing one-year discount loans at 7.6%. What is the effective annual rate on these loans? If you were required to repay $280,000 at the end of the loan for one year, how much would the bank have given you at the start of the loan? If you were required to repay $280,000 at the end of the loan for one year, how much would the bank have given you at the start of the loan? $ (Round to the nearest dollar.)

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