Compute the nominal annual interest rate for this loan what, Business Economics

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Compute the nominal annual interest rate for this loan what

A local lending institution advertises the "51-50 Club." A person may borrow $2000 and repay $51 for the next 50 months, beginning 30 days after receiving the money. Compute the nominal annual interest rate for this loan. What is the effective interest rate?

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Business Economics: Compute the nominal annual interest rate for this loan what

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Business Economics: Compute the nominal annual interest rate for this loan what

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