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You let a friend borrow 15,000. He will repay it in 6 equal end of year payments which consist of 4,000. The first payment will
You let a friend borrow 15,000. He will repay it in 6 equal end of year payments which consist of 4,000. The first payment will be recieved 1 year from now. What rate of return does your loan recieve?
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