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A new financial services company just opened in your town. To attract customers, it is offering a 9-11 loan special. The company will lend $9

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A new financial services company just opened in your town. To attract customers, it is offering a "9-11" loan special. The company will lend $9 today in exchange for a payment of $11 three years from today. What is the loan rate on this deal? A. 22.2 percent B. 10.6 percent 15. 6.9 7.4 percent

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