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If you paid $39 to a loan company for the use of $1,294 for 77 days, what annual rate of interest did they charge? (Assume

If you paid $39 to a loan company for the use of $1,294 for 77 days, what annual rate of interest did they charge? (Assume a 360-day year.) The annual rate of interest is %. (Round to three decimal places.)

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