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Jake is considering to take out a loan of $10,000 to fund this promotion service. Option 3: Jake needs to make five payments by end

Jake is considering to take out a loan of $10,000 to fund this promotion service. Option 3: Jake needs to make five payments by end of each month from January 2021 to May 2021 (inclusive). Jake needs to pay $1,910 for January 2021, $1,950 for February 2021 and March 2021, and $2,170 for April 2021 and May 2021.Find the implied effective annual rate charged by the bank?

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