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You have two options to repay a loan. You can repay $6000 now and $5940 in one year, or you can repay $12,000 in 6

You have two options to repay a loan. You can repay $6000 now and $5940 in one year, or you can repay $12,000 in 6 months. Find the annual effective interest rate at which both options have the same value. Answer is 21% but I need the steps to get there.

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