A firm purchases 100 acres of land for 200000 and agrees
A firm purchases 100 acres of land for $200,000 and agrees to remit 20 equal annual end-of-year installments of $41,067 each. What is the true annual interest rate on this loan?
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a firm purchases 100 acres of land for 200000 and agrees to remit 20 equal annual end-of-year installments of 41067
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