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D'Anthony borrowed $50,000 today that he must repay in 12 annual end-of-year installments of $5,000. What annual interest rate is D'Anthony paying on his loan?

D'Anthony borrowed $50,000 today that he must repay in 12 annual end-of-year installments of $5,000. What annual interest rate is D'Anthony paying on his loan? 5.556% 33.33% 3.333% 2.92%

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