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Suppose That You Borrow $10,000 for Two Years, and at the End

Question 81

Multiple Choice

Suppose that you borrow $10,000 for two years, and at the end of the second year, you must repay $11,664. The interest rate is

A) 16.7 percent.
B) 8.0 percent.
C) 7.0 percent.
D) 9.0 percent.

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