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Conversion of Flat Interest Rate to Effective Interest Rate

I have been quoted an unbelievably low flat interest rate? Can it be true? (Well no, check the corresponding effective interest rate.) Inputs

Loan Period (years): Select 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Flat Interest Rate (% p.a): Output Effective Interest Rate (% p.a):

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