Find the annual interest rate being paid on the loan

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Reference no: EM131970784

A loan is being repaid in 17 level annual installments. The 1^st payment is at the end of the 1^st year. The principal portion of the 10^th payment is $65.85 and the interest portion is $22.21.

Find the annual interest rate being paid on the loan.

Reference no: EM131970784

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