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Jed wants to borrow $1,000 from you. He is proposing to repay you with three annual payments of $310.91 starting immediately. In addition, he will

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Jed wants to borrow $1,000 from you. He is proposing to repay you with three annual payments of $310.91 starting immediately. In addition, he will make a final lump-sum payment of $160 three years from today. What rate of return are you earning on the loan? What rate of return are you earning on the loan? [% (Round to two decimal places.)

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