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5. In 1555, King Henry borrowed money from the bankers on the condition that he pay 5% of the loan at each fair (there were
5. In 1555, King Henry borrowed money from the bankers on the condition that he pay 5% of the loan at each fair (there were four fairs per year) until he had made 40 payments. At that time the loan would be considered repaid. What effective annual interest did King Henry pay
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