Youve run out of money for college, and your college roommate has an idea for you. He

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You’ve run out of money for college, and your college roommate has an idea for you. He offers to lend you $15,000, for which you will repay him $37,313 at the end of five years. If you took this loan, what interest rate would you be paying on it?

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Financial Management Principles and Applications

ISBN: 978-0133423822

12th edition

Authors: Sheridan Titman, Arthur Keown, John Martin

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Question Posted: Oct 31, 2014 07:25 AM

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Financial Management Principles and Applications

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