You borrowed $10,000 and six months later you repaid the lender $11,200. Your payment included principal...
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You borrowed $10,000 and six months later you repaid the lender $11,200. Your payment included principal and interest. What was the annual interest rate on the loan? (Do not include the % sign in your answer.) Add your answer You borrowed $10,000 and six months later you repaid the lender $11,200. Your payment included principal and interest. What was the annual interest rate on the loan? (Do not include the % sign in your answer.) Add your answer
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Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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