D’Anthony borrowed $50,000 today that he must repay in 15 annual end-o
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) 5.556% B) 33.33% C) 2.222% D) 3.333%
ANSWER
A
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