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A loan is being repaid with payments of $395 made at the beginning of each year for 17 years. Determine the effective annual rate of

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A loan is being repaid with payments of $395 made at the beginning of each year for 17 years. Determine the effective annual rate of interest charged if the loan amount is $5081.27. Possible Answers A 3.76% B 3.55% C 3.29% D 3.69% E 3.92%

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