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please show work! 1. Maxwell lends a friend $10,000 for which his friend will repay him $24,000 at the end of 10 years. What interest

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1. Maxwell lends a friend $10,000 for which his friend will repay him $24,000 at the end of 10 years. What interest rate is Maxwell charging his friend? (Round to two decimal places.) (2.5 points)

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