The Trustworthy Trust Company would like to obtain a yield of 16% on their loans. Past experience
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The Trustworthy Trust Company would like to obtain a yield of 16% on their loans. Past experience indicates that 5% of all loans are not paid. What rate of interest should Trustworthy Trust charge?
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Related Book For 
Theory Of Interest And Life Contingencies With Pension Applications A Problem Solving Approach
ISBN: 978-1566983334
3rd Edition
Authors: Asa Michael M. Parmenter, Ph.d.
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