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An executive borrows $50,000 from the company today and promises to repay $57,881 three years from now. What is the interest rate implied in the

An executive borrows $50,000 from the company today and promises to repay $57,881 three years from now. What is the interest rate implied in the agreement? Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Multiple Choice

4%

5%

6%

3%

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