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Dan owes $1,000 on his credit card. At the end of each month he pays $20 towards the balance. He has been told that

Dan owes $1,000 on his credit card. At the end of each month he pays $20 towards the balance. He has been

Dan owes $1,000 on his credit card. At the end of each month he pays $20 towards the balance. He has been told that it will take him 99.11 months to pay off this account. What annual interest rate is he paying?

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