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Question: In order to start a new business, Miss Sue Me intends to borrow $50,000 from a local bank. The loan contract requires her to repay the loan in five equal installments of $13, 870 at the end of each year. Calculate the annual interest rate on the loan. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Category:- Basic Finance
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