Question
A person borrowed $20,000 at the beginning the year 1, every year he is required to pay $4,000 so it is paid off after 10
A person borrowed $20,000 at the beginning the year 1, every year he is required to pay $4,000 so it is paid off after 10 years. What is the compound annual interest rate? (Hint: use linear interpolation).
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To find the compound annual interest rate CAGR we can use linear interpolation based on the informat...
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
