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MMLU-Pro / 180 / A sum of money is borrowed for a term of 1 year, discounted at the rate of 6%.…

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category

business

question

A sum of money is borrowed for a term of 1 year, discounted at the rate of 6%. What is the true rate of interest charged? What would the true rate of interest be for the same sum of money discounted at an 8% rate? (Record answers to the nearest tenth of 1%.)

src

stemez-Business

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