Multiple Choice
Strata Services has a three month $450,000 line of credit at an APR of 8%.The loan has a loan origination fee of 1.5%.What is the actual three-month interest rate paid expressed as an EAR?
A) 9.8%
B) 9.5%
C) 14.75%
D) 8.24%
E) 15%
Correct Answer:
Verified
Correct Answer:
Verified
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