You have borrowed $850 from your sister and you have promised to pay her $1000 after 5
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You have borrowed $850 from your sister and you have promised to pay her $1000 after 5 years. With annual compounding, find the implied rate of interest for this loan. (round to 2 decimals)
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0134141084
11th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
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