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If you borrow $7,000 at $690 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as

If you borrow $7,000 at $690 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.)

-annual payment

-semiannual payments

-quarterly payments

-monthly payments

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