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(Annuity interest rate) You've been offered a loan of $25,000, which you will have to repay in 5 equal annual payments of $7,000, with the

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(Annuity interest rate) You've been offered a loan of $25,000, which you will have to repay in 5 equal annual payments of $7,000, with the first payment due one year from now. What interest rate would you pay on that loan? The interest rate you would pay on the loan is %. (Round to two decimal places.)

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