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You've been offered a loan of $20,000, which you will have to repay in 15 equal annual payments of $4,000, with the first payment due

You've been offered a loan of $20,000, which you will have to repay in 15 equal annual payments of $4,000, with the first payment due one year from now. What interest rate would you pay on that loan? (Round to two decimal places.)

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