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If Inez is charged an interest of $142.95 on a loan of $1950.00 for nine months, calculate the rate of interest charged on the loan.

If Inez is charged an interest of $142.95 on a loan of $1950.00 for nine months, calculate the rate of interest charged on the loan. (Calculate to two decimals and enter without the percent sign, eg 1.23 or 12.34)

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