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Yoshe Bank agreed to lend you finds to complete the last year of your degree. The bank will lend you $10,000 today, if you agree

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Yoshe Bank agreed to lend you finds to complete the last year of your degree. The bank will lend you $10,000 today, if you agree to repay a lump sum of 15,500 eight years from now. What annual rate of interest is the Bank charging you? (Assume annual compounding and show your calculations)

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