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Smith has debts of 1000 due now and 1092 due two years from now He proposes to repay them with a single payment of 2000

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Smith has debts of 1000 due now and 1092 due two years from now He proposes to repay them with a single payment of 2000 one year from now. What is the implied annual effective interest rate if the re- placement payment is accepted as equivalent to the original debts

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