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Business, 27.02.2020 02:02 brighamc23
David needed money for some unexpected expenses, so he borrowed $3,695.17 from a friend and agreed to repay the loan in five equal installments of $950 at the end of each year. The agreement is offering an implied interest rate of .A) 14.85%
B) 9.57%
C) 11.00%
D) 12.98%
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David needed money for some unexpected expenses, so he borrowed $3,695.17 from a friend and agreed t...
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