Multiple Choice
Martin is offered an investment where for $6000 today, he will receive $6180 in one year. He decides to borrow $6000 from the bank to make this investment. What is the maximum interest rate the bank needs to offer on the loan if Martin is at least to break even on this investment?
A) 1%
B) 2%
C) 3%
D) 4%
Correct Answer:
Verified
Correct Answer:
Verified
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