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PLEASE GOOD HAND-WRITE! 8-A start-up company borrowed $700,000 to expand its packaging and shipping facility. The contract required the company to repay the investors a

PLEASE GOOD HAND-WRITE!

8-A start-up company borrowed $700,000 to expand its packaging and shipping facility. The contract required the company to repay the investors a series of uniform annual payments over a fixed period of time. If the company paid $150,000 per year for 6 years, what was the interest rate on the loan?(10p.)

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