John borrows $2,500 from his dad, who feels it is best to charge him interest. Six months later, John repays his dad the loan plus interest, a total of $2,588. What was the annual interest rate on the

John borrows $2,500 from his dad, who feels it is best to charge him interest. Six months later,

John repays his dad the loan plus interest, a total of $2,588. What was the annual interest rate on
the loan?

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