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Suppose that you borrow $4000.00 from a friend and promise to pay back $7040.00 in 4 years. What simple interest rate will you pay? .

Suppose that you borrow $4000.00 from a friend and promise to pay back $7040.00 in 4 years. What simple interest rate will you pay? . . . The simple interest rate is |% (Round to the nearest tenth as needed.) L

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