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Posted on Oct 04, 2024

You've been offered a loan of $ 2 5 comma 0 0 0 , which you will have to repay in 1 5 equal annual

You've been offered a loan of

25

comma

000,

which you will have to repay in

15

equal annual payments of

4

comma

000,

with the first payment due one year from now. What interest rate would you pay on that

loan

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