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Carla Company sells 9% bonds having a maturity value of $1,750,000 for $1,560,756. The bonds are dated January 1, 2017, and mature January 1, 2022.

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Carla Company sells 9% bonds having a maturity value of $1,750,000 for $1,560,756. The bonds are dated January 1, 2017, and mature January 1, 2022. Interest is payable annually on January 1. Determine the effective-interest rate. (Round answer to o decimal places, e.g. 18%.) The effective-interest rate 12 LINK TO TEXT

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