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Suppose that you loan 450 dollars to a friend today, and 575 dollars to the same friend a year from now. In two years, you
Suppose that you loan 450 dollars to a friend today, and 575 dollars to the same friend a year from now. In two years, you receive 1175 dollars repayment for both loans. What are the possible effective rates of interest on this transaction? (If you find more than one, list them separated by commas.)
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