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South Penn Trucking is financing a new truck with a loan of $20,000 to be repaid in 5 annual end-of-year installments of $5,009.13. What annual

South Penn Trucking is financing a new truck with a loan of $20,000 to be repaid in 5 annual end-of-year installments of $5,009.13. What annual interest rate is the company paying?

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7%

8%

9%

10%

39

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