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I don't have enough money for the movie and so my friend loans me $20. I feel embarrassed and promise to pay him back in
I don't have enough money for the movie and so my friend loans me $20. I feel embarrassed and promise to pay him back in 12 days when I get paid. Feeling bad that I had to borrow the money, I pay him back $25 on my payday saying that the extra $5 was interest. Find the simple interest rate, I paid my friend for the loan. Round your answer to the nearest percent
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