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(Solving for r in compound interest) You lend a friend $13,000. for which your friend will repay you $35,000 at the end of 8 years.

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(Solving for r in compound interest) You lend a friend $13,000. for which your friend will repay you $35,000 at the end of 8 years. What interest rate are you charging your frlend? The interest rate you are charging your friend is \%. (Round to two decimal places.)

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