You lend a friend 40000 which your friend will repay in 5
?(Solving for r of an annuity?) You lend a friend 40,000?, which your friend will repay in 5 equal annual? end-of-year payments of ?$12,000?, with the first payment to be received 1 year from now. What rate of return does your loan? receive?
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solving for r of an annuity you lend a friend 40000 which your friend will repay in 5 equal annual end-of-year payments
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