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Business A borrows $16,000,000 from Business B. If Business A pays back Business B in the amounts of $4,500,000 in years 1, 2, and 3
Business A borrows $16,000,000 from Business B. If Business A pays back Business B in the amounts of $4,500,000 in years 1, 2, and 3 and then pays a lump sum of $6,000,000 in year 4...what was the interest rate on the loan? Please show all work.
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