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Suppose that you get a loan for $50,000, which requires 5 yearly payments of $12,000 to be fully paid off. What is the average annual

  1. Suppose that you get a loan for $50,000, which requires 5 yearly payments of $12,000 to be fully paid off. What is the average annual rate of interest of this loan? continue to identify the critical values, draw a time line, write the appropriate formula, and then solve the problem

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