If Mega Corp

question 260

Multiple Choice

If Mega Corp.borrows $9 000 and agrees to pay the lender $10 500 in 1 year,the annual interest rate on this loan is approximately _____%.

• A) 8.6
• B) 14.3
• C) 16.7
• D) 15

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Definitions:

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Model Rule 1.6(b)(1)

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