You have $325, which a friend would like to borrow. If you dont lend it to your
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You have $325, which a friend would like to borrow. If you don’t lend it to your friend, you could invest it in an opportunity that would pay out $376 at the end of the year. What annual interest rate should your friend offer you to make you indifferent between these two options?
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In order to break even you will ...View the full answer
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