You gave a loan of $5,000.00 to a friend for 3 years compounded every 4 months. At

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You gave a loan of $5,000.00 to a friend for 3 years compounded every 4 months. At the end of 3 years, your friend gave you $7,116.56 back. 2. What is the interest rate per interest period you charged your friend for the loan?

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Fundamentals of Financial Management

ISBN: 978-1337395250

15th edition

Authors: Eugene F. Brigham, Joel F. Houston

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Posted Date: Feb 26, 2024 02:27 AM

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You gave a loan of $5,000.00 to a friend for 3 years compounded every 4 months. At

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Fundamentals of Financial Management

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