Question
(Solving for r of an annuity) You lend a friend $15000, which your friend will repay in 9 equal annual end-of-year payments of $2000, with
(Solving for r of an annuity) You lend a friend $15000, which your friend will repay in 9 equal annual end-of-year payments of $2000, with the first payment to be received 1 year from now. What rate of return does your loan receive?
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Entrepreneurial Financial Management An Applied Approach
Authors: Jeffrey R Cornwall, David O Vang, Jean M Hartman
5th Edition
0367335417, 978-0367335410
