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Suppose you borrow money from a loan shark who requires that, for every $10.00 that you borrow, $12.00 must be repaid 73 day later. Calculate

Suppose you borrow money from a loan shark who requires that, for every $10.00 that you borrow, $12.00 must be repaid 73 day later. Calculate the effective annual rate of interest, reff, that you are being charged by the loan shark.

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