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Your uncle lends you $8,400 less $504 (interest at 6 percent), and you receive $7,896. Use the APR formula to find the true annual percentage

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Your uncle lends you $8,400 less $504 (interest at 6 percent), and you receive $7,896. Use the APR formula to find the true annual percentage rate. Assume you repay the entire loan in one year. (Enter your answer as a percent rounded to 3 decimal places.) Annual percentage rate %

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