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If Dave borrowed $500 on January 1, 2006 and paid it all back at once on December 31,2006. What was the APR?
If Dave paid the $500 in 12 equal monthly payments then the APR= 20.3%
Expert answered|sujaysen|Points 1552|
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Asked 2/23/2012 10:53:06 AM
Updated 8/11/2023 2:34:08 PM
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Closed-end in credit is used for a specific purpose and involves a specified amount. TRUE.
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