Question
Suppose you borrow $10,000 right now to start a business. If the terms of the loan require you to pay back $13,000 in 5 years,
Suppose you borrow $10,000 right now to start a business. If the terms of the loan require you to pay back $13,000 in 5 years, what is the implied annual compound interest rate?
| 30.00% | ||
| 5.00% | ||
| 6.00% | ||
| 5.39% | ||
| None of these |
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Bond Markets Analysis And Strategies
Authors: Frank J. Fabozzi
6th Edition
0131986430, 9780131986435
