Multiple Choice
Your company borrows $75,000 today to fund its growth initiatives. It must repay the bank in four annual payments of $26,600 at the end of each year. What annual interest rate is your firm paying?
A) 15.62 percent
B) 17.18 percent
C) 14.74 percent
D) 16.97 percent
Correct Answer:
Verified
Correct Answer:
Verified
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