Question
John and Anita are getting ready to buy a thoroughbred racing horse. To help them with this investment, Anita's aunt offers to loan them 500,000
John and Anita are getting ready to buy a thoroughbred racing horse. To help them with this investment, Anita's aunt offers to loan them 500,000 today, which can be repaid in 5 years. If John and Anita borrow the money , they will have to repay Anita's aunt the amount of 750,000. What rate of interest would John and Anita be paying on the 5-year loan?
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Gold And Debt An American Hand Book Of Finance With Over Eighty Tables And Diagrams Illustrative Of The Following Subjects The Dollar And Other Units Paper Money In The United States And Europe Gold And Silver In The United States And Europe
Authors: Fawcett William Lyman
1st Edition
1313124508, 9781313124508
