Question
(Annuity interest rate)You've been offered a loan of $30,000, which you will have to repay in 10 equal annual payments of $5,000, with the first
(Annuity interest rate)You've been offered a loan of $30,000, which you will have to repay in 10 equal annual payments of $5,000, with the first payment due one year from now. What interest rate would you pay on that loan?
The interest rate you would pay on the loan is %. (Round to two decimal places.)
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Adventure Finance
Authors: Aunnie Patton Power
1st Edition
3030724271, 978-3030724276
