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What annual rate of return is implied on a $2,500 loan taken next year when $4,750 must be repaid in year 6? (Do not round
| What annual rate of return is implied on a $2,500 loan taken next year when $4,750 must be repaid in year 6? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
| Annual rate of return | % |
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Financial Markets And Institutions
Authors: Jeff Madura
9th Edition
1439038848, 978-1439038840
