Question
A friend has just loaned you $1000 to cover some personal expenses. He wants you to pay him back by making payments over the next
A friend has just loaned you $1000 to cover some personal expenses. He wants you to pay him back by making payments over the next year (12 payments) of $88.85 per month. What is the annual rate of interest your friend is charging you?
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Advanced Finance
Authors: Michael Fardon
1st Edition
1872962319, 1872962173, 978-1872962313, 978-1872962177
