Multiple Choice
D'Anthony borrowed $50,000 today that he must repay in 15 annual end-of-year installments of $5,000.What annual interest rate is D'Anthony paying on his loan?
A) 2.222%
B) 3.333%
C) 5.556%
D) 33.33%
Correct Answer:
Verified
Correct Answer:
Verified
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