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3. A person borrows $20,000 simple interest loan from a company, and after 9 months the interest is $50. What is the annual simple interest

3. A person borrows $20,000 simple interest loan from a company, and after 9 months the interest is $50. What is the annual simple interest rate in this case? A. 0.33% B. 0.50% C. 2% D. 1.05% E. 0.06%

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