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2) Find the interest rates implied by each of the following: 2a. You borrow $1500 today and promise to repay the loan by making a

2) Find the interest rates implied by each of the following:

2a. You borrow $1500 today and promise to repay the loan by making a single payment of $2114.00 in 5 years.

2b. You invest $500 today and receive a promise of receiving back $193.50 for each of the next 4 years.

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