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(Solving for r in compound interest) You lend a friend $10,000, for which your friend will repay you $48,000 at the end of 15 years.

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(Solving for r in compound interest) You lend a friend $10,000, for which your friend will repay you $48,000 at the end of 15 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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