You lend a friend $11,000, for which your friend will repay you $57,628 at the end of
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Question:
You lend a friend
$11,000,
for which your friend will repay you
$57,628
at the end of
8
years. What interest rate are you charging your "friend"?
Related Book For
Financial Management Principles and Applications
ISBN: 978-0133423822
12th edition
Authors: Sheridan Titman, Arthur Keown, John Martin
Posted Date: