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2. A student borrows $X. They can either pay it back with a payment of $500 in n years and $700 in 2n years or

2. A student borrows $X. They can either pay it back with a payment of $500 in n years and $700 in 2n years or $1,165.40 in 7 years. If vn=0.833885, what is the effective annual interest rate

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