You borrow money from a classmate to start a business. You receive $ 3 0 , 0

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Question:

You borrow money from a classmate to start a business. You receive $

30, 000

today. To pay off the loan, you will make payments of $

3, 294

each year for

15

years. What interest rate is your classmate offering you on this loan?

Posted Date: May 18, 2024 10:00 PM

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You borrow money from a classmate to start a business. You receive $ 3 0 , 0

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