(Annuity interest rate) You've been offered a loan of $25,000, which you will have to repay in 11 equal annual payments of $5,000, with the first payment due one year from now. What interest rate would you pay on that loan? The interest rate you would pay on the loan is %. (Round to two decimal places.) C

(Annuity interest rate) You've been offered a loan of $25,000, which you will have to repay in 11 equal annual payments of $5,000, with the first payment due one year from now. What interest rate would you pay on that loan? The interest rate you would pay on the loan is %. (Round to two decimal places.) C

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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