Question
My uncle borrowed 5,000 bolivars (B5,00) from his brother in Caracas, Venezuela. He promised to repay the loan in two annual installments of B3,000 each.
My uncle borrowed 5,000 bolivars (B5,00) from his brother in Caracas, Venezuela. He promised to repay the loan in two annual installments of B3,000 each. What rate of interest is he paying his brother?
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Business Forecasting
Authors: John E. Hanke, Dean Wichern
9th edition
132301202, 978-0132301206
