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You ask for a $15,143 loan for one year. The bank tells you that it will give you $13,785 and deduct the interest upfront. What

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You ask for a $15,143 loan for one year. The bank tells you that it will give you $13,785 and deduct the interest upfront. What is the effective rate of interest on this loan? Type your answer as percentage and not as decimal (i.e. 5.2 and not 0.052 ). Round your percentage answer to two decimals if needed. Do not type the \% symbol

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