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You repaid the loan by making semiannual payments of 5000

You borrowed $50,000 from a friend five years ago to start a business. You repaid the loan by making semiannual payments of $5,000 for the first three years followed by semiannual payments of $9,000 for the latter two years. What nominal annual interest were you charged on this loan?

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Finance Basics: You repaid the loan by making semiannual payments of 5000

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