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You borrow $54,680 and promise to pay back $78375 at the end of 9 years. Calculate the yearly rate of: (6 points) Compound interest Simple

You borrow $54,680 and promise to pay back $78375 at the end of 9 years. Calculate the yearly rate of: (6 points)

  1. Compound interest

  1. Simple interest

for this transaction.

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