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Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. Matthew needed money for some

Consider the case of the following annuities, and the need to compute either their expected rate of return or duration.
Matthew needed money for some unexpected expenses, so he borrowed $2,587.09 from a friend and agreed to repay the loan in three equal installments of $950 at the end of each year. The agreement is offering an implied interest rate of .

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