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  • 06-06-2023
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In a credit market, type B borrowers repay 89% of the time and type C repay 76% of the time. They both want a loan for $200. The bank cannot observe type, but figures the population of borrowers is divided up such that 75% are type B and the rest are type C. In this case, the competitive pooling rate on the loans is? a. 10.4% b. 12.4% c. 14.4% d. 17.0%

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