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EXPLAIN WHY AND SHOW WORK Suppose a relative of yours wants to borrow $5,000. She offers to repay you $1,500 every year for six years.

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Suppose a relative of yours wants to borrow $5,000. She offers to repay you $1,500 every year for six years. What interest rate are you being offered? Multiple Choice 23.24% 3.33% 19.91% 24.40%

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