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A loan of $ 1 0 , 0 0 0 is being repaid with annual payments of $ 1 , 5 0 0 for n

A loan of $10,000 is being repaid with annual payments of $1,500 for n years. The total principal paid in the first payment is $685.58. Calculate the interest rate on the loan. Round to two decimal places on the interest rate percentage.

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