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Find the interest rates earned

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Reference no: EM132488428

Question 1: Find the interest rates earned on each of the following. Round your answers to the nearest whole number:

  1. "You borrow $98,000 and promise to pay back $842,738 at the end of 13 years"
  2. "You borrow $14,000 and promise to make payments of $3,693.20 at the end of each year for 5 years."

Reference no: EM132488428

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