# If ($5),000 is borrowed today and ($8),955 is paid back in 10 years, what interest rate compounded

## Question:

If \($5\),000 is borrowed today and \($8\),955 is paid back in 10 years, what interest rate compounded annually has been earned?

Fantastic news! We've Found the answer you've been seeking!

## Step by Step Answer:

**Related Book For**

## Principles Of Engineering Economic Analysis

**ISBN:** 9781118163832

6th Edition

**Authors:** John A. White, Kenneth E. Case, David B. Pratt