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(Related to Checkpoint 5.6) (Solving for You lend a friend $10,000, for which your friend...

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(Related to Checkpoint 5.6) (Solving for You lend a friend $10,000, for which your friend will repay you $47,684 at the end of 7 years. What interest rate are you charging your "friend"? The interest rate you are charging your friend on the loan is 1 %. (Round to the nearest whole percent)

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