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Daniel Conover borrowed $2,800 from his father to purchase a mountain bike. Daniel paid back $3,800 to his father at the end of 5 years.

Daniel Conover borrowed $2,800 from his father to purchase a mountain bike. Daniel paid back $3,800 to his father at the end of 5 years. What was the average annual compound rate of interest on Daniels loan from his father?

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