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A couple needs money for their dream house but has been rejected by their local bank. They reach out to the neighborhood Godfather for a

A couple needs money for their dream house but has been rejected by their local bank. They reach out to the neighborhood Godfather for a special loan. The Godfather offers them $300,000.00 today, but will require $1,000.00 per month on the loan forever. What is the interest rate or the IRR offered by the Godfather? (express as an APR). Round to 2 Deci

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