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You just received $1,500 from your local bank. This amount is net of a 10% discount on the loan amount, which serves as interest on

You just received $1,500 from your local bank. This amount is net of a 10% discount on the loan amount, which serves as interest on the loan. You are to repay the loan amount in one payment in two years as a lumpsum. What is the interest rate that you are charged on the loan?
11.00%
5.00%
11.11%
5.41%
none of the proposed answers

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