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Rate equations are used to study the dynamic magnetic properties of interacting magnetite nanoparticles viewed as double well systems (DWS) subjected to a driving field in the radio-frequency range. Dipole-dipole interaction among particles is modeled by inserting an ad-hoc term in the energy barrier to simulate the dependence of the interaction on both the interparticle distance and degree of dipole collinearity. The effective magnetic power released by an assembly of interacting nanoparticles dispersed in a diamagnetic host is shown