Question: You have been offered a note with four years to maturity, which will pay $3,000 at the end of each of the four years. The

You have been offered a note with four years to maturity, which will pay $3,000 at the end of each of the four years. The price of the note to you is $10,200. What is the implicit compound annual interest rate you will receive (to the nearest whole percent)?

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