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Suppose you needed to borrow $109 for a period of 9 years and the lender required you to only make a lump sum payment of
Suppose you needed to borrow $109 for a period of 9 years and the lender required you to only make a lump sum payment of $167 at the end of the period to pay off the loan. What would be the interest rate on the loan? Your answer should be expressed in decimal form (not expressly as a percentage) extended to four places to the right of the decimal point
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