Jason decides to borrow money for a holiday. If a personal loan is taken over 4

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Choose the correct option.

Jason decides to borrow money for a holiday. If a personal loan is taken over 4 years with equal quarterly repayments at 12% p.a. flat rate (simple interest), calculate the effective rate of interest.

A. 22588
B. 32.588
C. 42.588
D. 43.588

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