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You've run out of money for college, and your college roommate has an idea for you. He offers to lend you $ 1 5 ,

You've run out of money for college, and your college roommate has an idea for you. He offers to lend you $15,000, for which you will repay him $42,798 at the end of 8 years. If you took this loan, what interest rate would you be paying on it?

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