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( Solving for r in compound interest ) You lend a friend $ 1 3 , 0 0 0 , for which your friend will

(Solving for r in compound interest) You lend a friend $13,000, for which your friend will repay you $30,000 at the end of 8 years. What interest rate are you charging your friend?
The interest rate you are charging your friend is
%(Round to two decimal places.)
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