Corporate Finance: A Focused Approach (mindtap Course List)
Corporate Finance: A Focused Approach (mindtap Course List)
7th Edition
ISBN: 9781337909747
Author: Michael C. Ehrhardt, Eugene F. Brigham
Publisher: South-Western College Pub
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Chapter 4, Problem 23P

A mortgage company offers to lend you $85,000; the loan calls for payments of $8,273.59 at the end of each year for 30 years. What interest rate is the mortgage company charging you?

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