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If you borrow $8,599 and are required to pay back the loan in five equal annual installments of $2,750, what is the interest rate associated

If you borrow $8,599 and are required to pay back the loan in five equal annual installments of $2,750, what is the interest rate associated with the loan? Use Appendix D or a financial calculator to solve this problem. (Round your answer to the nearest whole percent.)

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