Question
Jake borrowed $18,000 from his father to purchase a camper. Jake paid back $25,000 to his father at the end of 6 years. What was
Jake borrowed $18,000 from his father to purchase a camper. Jake paid back $25,000 to his father at the end of 6 years.
What was the average annual compound rate of interest on Jake's loan from his father?
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South-Western Federal Taxation 2018 Comprehensive
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
41st Edition
1337386006, 978-1337386005
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