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Dae-Sung has a student loan for $27,900.00 at an interest rate of i (1) %. The loan will be paid off with annual payments (at

Dae-Sung has a student loan for $27,900.00 at an interest rate of i(1)%. The loan will be paid off with annual payments (at the end of each period) of $4,476.86 for the next 7 years. Find i(1). (Answer to the nearest 0.1%.)

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