Question
Financial Corporation offers to lend you $75,000; the loan calls for annual payments of $9,860.51 for 15 years.What rate of interest is the company charging
Financial Corporation offers to lend you $75,000; the loan calls for annual payments of $9,860.51 for 15 years.What rate of interest is the company charging you?
****SHOW WORK*****
My Answer was around 11%
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Financial Management Theory And Practice
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
3rd Canadian Edition
017658305X, 978-0176583057
