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Jed wants to borrow $1,000 from you. He is proposing to repay you with three annual payments of $357.42 starting one year from now. In

Jed wants to borrow

$1,000

from you. He is proposing to repay you with three annual payments of

$357.42

starting one year from

now.

In addition, he will make a final lump-sum payment of

$140

three years from

today.

What rate of return are you earning on the loan?

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