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Problem 4-15 Effective Rate of Interest Find the interest rate (or rates of return) for each of the following situations. Round your answers to two

Problem 4-15 Effective Rate of Interest

Find the interest rate (or rates of return) for each of the following situations. Round your answers to two decimal places.

A- You borrow $8,000 and promise to make payments of $2,444.9 at the end of each year for 4 years.

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