A friend promises to pay you $1,000 two years from now if you lend hime $800 today.
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A friend promises to pay you $1,000 two years from now if you lend hime $800 today. What annual rate of interest is your friend offering?
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PV 800 FV 1000 No of yea...View the full answer
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Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
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