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Business, 25.02.2021 18:40 Shavaila18

General Manufacturing wants to borrow $1 million for three months. It uses its inventory as collateral for an 11% (APR) loan under a warehouse arrangement where the warehouse fee is $12,000 paid at the start of the three months. What is the EAR of this loan for General Manufacturing? A) 2.8%.
B) 4.0%.
C) 17.1%.
D) 24.4%.

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