What is the yield to maturity on a simple loan for$1,500 that requires a repayment of $15,000 in fiveyears?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 14P
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What is the yield to maturity on a simple loan for
$1,500 that requires a repayment of $15,000 in five
years?

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