you want to buy a piece of land and the owner
You want to buy a piece of land and the owner would sell it to you for $120,000 cash. Alternatively, he would let you pay for it with four annual installments of $32,000 each, the first one due right now. What is the implied interest rate here.
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you want to buy a piece of land and the owner would sell it to you for 120000 cash alternatively he would let you pay for it with four annual
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