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Jed wants to borrow $1,000 from you. He is proposing to repay you with three annual payments of $357.42 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
$357.42
starting one year from
now.
In addition, he will make a final lump-sum payment of
$140
three years from
today.
What rate of return are you earning on the loan?
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