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Someone borrows $3,000 for 90 days and pays $35 interest. What is their annual rate of interest? options 1.2% 3.5% 4.7% 11.7%

Someone borrows $3,000 for 90 days and pays $35 interest. What is their annual rate of interest?

options

1.2%

3.5%

4.7%

11.7%

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