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Angela loans Kathy $9,000. Kathy repays the loan by paying $3,000 at the end of one and a half years and $9,000 at the end
Angela loans Kathy $9,000. Kathy repays the loan by paying $3,000 at the end of one and a half years and $9,000 at the end of three years. The money received at t = 1.5
is immediately reinvested at an annual effective interest rate of 6%. Find Kathy's annual effective rate of interest and Angela's annual yield. (Round your answers to two decimal places.)
Kathy's annual effective rate of interest %
Angela's annual yield %
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