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7 . Neha borrows $ 1 , 1 0 0 at a discount rate of D . She has $ 1 , 0 6 7

7 .

Neha borrows $

1, 100

at a discount rate of D

.

She has $

1, 067

to spend right now. What is the discount rate, and what interest rate is it equivalent to

?

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