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Steve Taylor is settling a $19,270 loan due today by making 6 equal annual payments of $4,424.53. Determine the interest rate on this loan, if

Steve Taylor is settling a $19,270 loan due today by making 6 equal annual payments of $4,424.53.

Determine the interest rate on this loan, if the payments begin one year after the loan is signed. (Round answer to 0 decimal places, e.g. 8%.)

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