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Mary Ott is going to borrow $14,600 for 45 days and pay $185 interest. What is the effective rate of interest if the loan is

Mary Ott is going to borrow $14,600 for 45 days and pay $185 interest.

What is the effective rate of interest if the loan is discounted?

Note: Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.

Effective rate on a discounted loan _______%

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