firm is considering a one-year loan for $1,000,000. The fees are 3% of the loan amount  and the stated interest rate is 4.0%. First, compute the net amount of funds from the loan.  Based on this net amount, what is the true interest rate of the loan (incorporating the fees)

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A: To evaluate each expression

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A: I am attaching image so that you understand each and every step.

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A: On solving this we will get

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