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A PERSON BORROWS 100 FROM A BANK AT A RATE OF X PERCENT MONTHLY RATE NOW TO BE PAID PACK IN 4 YEARS PAYING BACK

A PERSON BORROWS 100 FROM A BANK AT A RATE OF X PERCENT MONTHLY RATE NOW TO BE PAID PACK IN 4 YEARS PAYING BACK 2 EVERY MONTH. WHAT IS HIS YEARLY BORROWING RATE?

Kindly I need the answer in formulas (mathmatically) (no excel or financial calculator)

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