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(Solving for r of an annuity) You lend a triend $10,000, which your friend wal repay in 15 equal amual end-of-year payments of $1,000, with

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(Solving for r of an annuity) You lend a triend $10,000, which your friend wal repay in 15 equal amual end-of-year payments of $1,000, with the fist payment to be received 1 year from now What rate of return does your loan recelwe? The rate of retum your ban wit receive is (Round to two decirnal places.)

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