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On this date last year you borrowed $ 7 , 4 5 0 . You have to repay the loan principle plus all of the

On this date last year you borrowed $7,450. You have to repay the loan principle plus all of the interest four years from today. The payment that is required at that time is $11,426. What is the interest rate on this loan?
a.
7.67%
b.
13.34%
c.
8.93%
d.
11.28%
e.
10.67%

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