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a. The terms of the sale were 2/7, net 79. What is the effective annual rate of interest? Convert your answer to percentage and round

a. The terms of the sale were 2/7, net 79. What is the effective annual rate of interest? Convert your answer to percentage and round off to two decimal points. Do not enter % in the answer box.

b. The terms of the sale were 4/19, net 51. What is the effective annual rate of interest? Convert your answer to percentage and round off to two decimal points. Do not enter % in the answer box.

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