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You've been offered a loan of $50,000, which you will have to repay in 8 equal annual payments of $11,000, with the first payment due
You've been offered a loan of
$50,000,
which you will have to repay in
8
equal annual payments of
$11,000,
with the first payment due one year from now. What interest rate would you pay on that loan?
The interest rate you would pay on the loan is
nothing%.
(Round to two decimal places.)
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