Question Workspace Check My Work Your uncle the banker offers to lend you $25,000 to start...

Question Workspace Check My Work Your uncle the banker offers to lend you $25,000 to start a new business. You will have to make a payment of $7,000 at the end of each of the next 3 years plus a final payment of $10,000 at the end of Year 4. What annual interest rate is built into this loan?

a. 10.13%

b. 9.74%

c. 9.01%

d. 8.66%

e. 9.37%

Anybody can solve this question via HP 10bll+ calculator?

Expert Solution

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

jeff jeffy answered 1 year ago

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