Question
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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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
14th edition
1337090581, 978-1337090582
