If you borrow 10951 and are required to pay back the loan, Ask an Expert

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If you borrow $10,951 and are required to pay back the loan in five equal annual installments of $2,600, what is the interest rate associated with the loan? Use Appendix D or a financial calculator to solve this problem. (Round your answer to the nearest whole percent.)

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Financial Management, Finance

Category:- Financial Management
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