You take a personal loan of $10K with semi-annual (every six months) payments of $3,480 for two

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You take a personal loan of $10K with semi-annual (every six months) payments of $3,480 for two years.

What is the IRR of this loan? If the interest rate is 6% per year, is this loan attractive?

Related Book For answer-question

Foundations of Finance The Logic and Practice of Financial Management

ISBN: 978-0132994873

8th edition

Authors: Arthur J. Keown, John D. Martin, J. William Petty

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Posted Date: Apr 08, 2023 04:05 AM

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You take a personal loan of $10K with semi-annual (every six months) payments of $3,480 for two

Question:

Expert Answer:

To find the IRR of the loan we need to solve for the discount rat... View the full answer

Foundations of Finance The Logic and Practice of Financial Management

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