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A bank offers an $18,000 discounted loan at 685% simple interest for 3 years. Amount of Interest Collected = Amount of Loan Disbursed = A

A bank offers an $18,000 discounted loan at 685% simple interest for 3 years. Amount of Interest Collected = Amount of Loan Disbursed = A To the nearest hundredth of a percent, the effective rate of interest is

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