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1. A person borrows $10,000 and is going to repay with ten payments of $1,359. What interest rate is the person being charged? 2. What

1. A person borrows $10,000 and is going to repay with ten payments of $1,359. What interest rate is the person being charged?

2. What would the required payment be for a $30,000 loan if the payments are made at the end of each year for the next five years and the interest rate is 8%?

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