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You lend a friend $ 3 0 , 0 0 0 , which your friend will repay in 1 4 equal annual end - of

You lend a friend $30,000, which your friend will repay in 14 equal annual end-of-year payments of $3,000, with the first payment to be receivYou lend a friend $30,000, which your friend will repay in 14 equal annual end-of-year payments of $3,000, with the first payment to be received 1 year from now. What rate of return does your loan receive?ed 1 year from now. What rate of return does your loan receive?

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