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- On a certain loan with annual payments, the first payment is made one year after the loan was made. The interest portion of the

- On a certain loan with annual payments, the first payment is made one year after the loan was made. The interest portion of the first payment is 43.10, the principal repaid in the first payment is 156 , and the outstanding balance just after the first payment is 706 . What is the annual effective interest loan

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