You borrow 1000 from a friendly loan shark undertaking to


Estimate how many years to go before you retire. Now go back the same number of years ans find the value of the dollar compared to now. Comment

You borrow $1,000 from a friendly loan shark, undertaking to pay back $1,100 in 12 equal installments of $91.67. What rate of interest have you been charged?

 

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Finance Basics: You borrow 1000 from a friendly loan shark undertaking to
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