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Sam promises to pay Joe $1,904 in a year if Joe gives him $1,498 today. What interest rate is Sam paying? Select one: a. 29.11%

Sam promises to pay Joe $1,904 in a year if Joe gives him $1,498 today. What interest rate is Sam paying? Select one: a. 29.11% b. 27.11% c. 25.41% d. 23.41%

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