On July 17, 2015, Craig Horton borrowed $60,000 from his grandfather to open a clothing store. Starting
Question:
On July 17, 2015, Craig Horton borrowed $60,000 from his grandfather to open a clothing store. Starting July 17, 2016, Craig has to make 10 equal annual payments of $8,860 each to repay the loan. Use a financial calculator to determine what interest rate Craig is paying.
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Related Book For 
Financial Accounting
ISBN: 9781118334324
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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