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Jed wants to borrow $ 1 , 0 0 0 from you. He is proposing to repay you with three annual payments of $ 3
Jed wants to borrow $ from you. He is proposing to repay you with three annual payments of $ starting
immediately. In addition, he will make a final lumpsum payment of $ three years from today. What rate of return are you
earning on the loan? Express your answer in percentage form rounded to two decimal places.
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