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You take out a loan to build a swimming pool in your new home's backyard. Your equal annual payments are 1/6 of the amount you

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You take out a loan to build a swimming pool in your new home's backyard. Your equal annual payments are 1/6 of the amount you borrowed. If it will take you 7 years to fully repay the loan, what is the interst rate on the loan? Round entry to one decimal place. Tolerance is plusminus 2. Click here to access the TVM Factor Table Calculator

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