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You borrow $110,000 and must make annual loan payments of $7,991.39 for 30 years, starting at the end of the year. What interest rate are

You borrow $110,000 and must make annual loan payments of $7,991.39 for 30 years, starting at the end of the year. What interest rate are you being charged?

a.

8%

b.

10%

c.

9%

d.

6%

e.

7%

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