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Henry Taylor is settling a $18,860loan due today by making6equal annual payments of $4,458.06. Determine the interest rate on this loan, if the payments begin

Henry Taylor is settling a $18,860loan due today by making6equal annual payments of $4,458.06.

Determine the interest rate on this loan, if the payments begin one year after the loan is signed.(Round answer to 0 decimal places, e.g. 8%.)

Interest rate : ?

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