Question: Calculations and the equations used to solve this question will be best thank you! You have borrowed 15,000 and agreed to repay the loan with

Calculations and the equations used to solve this question will be

Calculations and the equations used to solve this question will be best thank you!

You have borrowed 15,000 and agreed to repay the loan with 5 level annual payments of 4,000 with the first payment occurring one year from the date of the loan. What annual effective interest rate are you paying

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