You Have $253

question 14

Multiple Choice

You have $253.05 today.A friend wants to borrow that money from you and pay you back $310 at the end of 3 years.What rate of return (per annum) will you earn from the loan?

• A) 7.0%
• B) 7.2%
• C) 6.8%
• D) 7.4%
• E) 7.6%

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