Question
You've been offered a loan of $10,000 which you will have to repay in 7 equal annual payments of $2,000 with the first payment due
You've been offered a loan of $10,000 which you will have to repay in 7 equal annual payments of $2,000 with the first payment due one year from now. What interest rate would you pay on that loan?
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Quantitative Corporate Finance
Authors: John B. Guerard Jr. Anureet Saxena, Mustafa Gultekin
2nd Edition
3030435466, 978-3030435462
