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Calculate the interest rate

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Q1. You borrow 1000 at an annual effective rate of 10% and pay it back with one payment of 600 at the end of the first year and another payment of X at the end of the second year. Calculate X.

Q2. You deposit 500 at time 0, another 300 at time 1, and a final 200 at time 2. Immediately after your last deposit, your account has 1100. Calculate the interest rate.

Reference no: EM133127692

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