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2 Rodney borrowed $15,000,000 for a modest vacation home in Lajolla, CA. The lender, Scrooge National Bank requires that he repay the loan in twenty

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2 Rodney borrowed $15,000,000 for a modest vacation home in Lajolla, CA. The lender, Scrooge National Bank requires that he repay the loan in twenty installments of $ 1,103,726 The first payment is due in six months and the remaining payments every half year thereafter. What is the ANNUAL rate of interest on the Scrooge loan

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