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2.8. A reputable individual approaches you for a loan. He wishes to borrow $845 from you today. In exchange, he will give you $21 at

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2.8. A reputable individual approaches you for a loan. He wishes to borrow $845 from you today. In exchange, he will give you $21 at the end of every three months and $1085 at the end of 7 years. Assuming you have the money to lend to him, what would be your overall annual rate of return on this loan if you lend him the money

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