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Your uncle the banker offers to lend you 25000 to start a

Your uncle the banker offers to lend you $25,000 to start a new business. You will have to make a payment of $7,000 at the end of each of the next 3 years plus a final payment of $10,000 at the end of Year 4. What annual interest rate is built into this loan? a. 9.37% b. 10.13% c. 9.01% d. 8.66% e. 9.74%

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Financial Management: Your uncle the banker offers to lend you 25000 to start a

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Financial Management: Your uncle the banker offers to lend you 25000 to start a

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