If ($5),000 is borrowed today and ($8),955 is paid back in 10 years, what interest rate compounded

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If $$5$,000 is borrowed today and $$8$,955 is paid back in 10 years, what interest rate compounded annually has been earned?

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Principles Of Engineering Economic Analysis

ISBN: 9781118163832

6th Edition

Authors: John A. White, Kenneth E. Case, David B. Pratt

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Question Posted: Mar 26, 2024 01:02 AM

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If ($5),000 is borrowed today and ($8),955 is paid back in 10 years, what interest rate compounded

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To find the interest rate earned when 5000 is borrowed and 89...View the full answer

Principles Of Engineering Economic Analysis

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