Calculate the actuarial rate the annual percentage rate apr, Financial Management

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Calculate the actuarial rate the annual percentage rate apr

A farmer needs to borrow $2,000. The local PCA will make a 3-year loan fully amortized at 12% with semiannual payments. A $15 dollar loan fee and stock purchase is required. There is a 3% stock requirement.

Calculate the following: 1. the Actuarial Rate, 2. the Annual Percentage Rate (APR), and 3. the Effective Interest Rate.

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Financial Management: Calculate the actuarial rate the annual percentage rate apr

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Financial Management: Calculate the actuarial rate the annual percentage rate apr

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