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(Annuity interest rate)You've been offered a loan of $20,000, which you will have to repay in 10 equal annual payments of $3,000, with the first

(Annuity interest rate)You've been offered a loan of

$20,000,

which you will have to repay in

equal annual payments of

$3,000,

with the first payment due one year from now. What interest rate would you pay on that loan?

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