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Your uncle lends you $2,900 less $174 (interest at 6 percent), and you receive $2,726. The loan is for one year and will be repaid

Your uncle lends you $2,900 less $174 (interest at 6 percent), and you receive $2,726. The loan is for one year and will be repaid in one lump sum at the end of the year. Use the APR formula to find the true annual percentage rate. (Enter your answer as a percent rounded to 3 decimal places.)

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