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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
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"?
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Step: 1
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Step: 2
Step: 3
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Financial Management Principles and Applications
Authors: Sheridan Titman, Arthur Keown, John Martin
12th edition
133423824, 978-0133423822
