Question
Jed wants to borrow $1,000 from you. He is proposing to repay you with three annual payments of $347.03 starting one year from now. In
Jed wants to borrow
$1,000
from you. He is proposing to repay you with three annual payments of
$347.03
starting one year from
now.
In addition, he will make a final lump-sum payment of
$120
three years from
today.
What rate of return are you earning on the loan?
What rate of return are you earning on the loan?
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Foundations Of Financial Management
Authors: Stanley B Block, Geoffrey A Hirt
12th Edition
0073295817, 9780073295817
