Question: Cee Lo Green decides to borrow $ 100,000. In order to settle this loan, he plans to make 10 payments of $ 13,586.79 at the
Cee Lo Green decides to borrow $ 100,000. In order to settle this loan, he plans to make 10 payments of $ 13,586.79 at the end of each year. Interest is compounded annually. What is the interest rate on this loan?
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Using PV of Ordinary Annuity Table 7A5 where N 10 and IY is unknown 100000 1358679 ... View full answer
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