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Question

P Take Test-Cameron Sco x https://www.mathul.coms Test.aspxtestid-1361869028centerwineyes Apps YouTube . Broadcas Herre Twitter / Horne -Blackboard Laarn D save Video Me m waen The Strege Watch The Strange a-te-na- Music for reading . Anao. Cameron Scott 5/18 7 uiz: Chapters 3 and 4 Overvi This Test: 20 pts 00 54:40 Jed wants to borrow $1,000 from you. lHe is proposing to repay you with throe end -of-year payments of $304 33. In addition, he will make a final lump-sum payment of s160. Whas rate of return are you earning on the loan? What rate of return are you earning on the loan? (Round to two decimal places)

Explanation / Answer

cash flow present value 1000 304.33 304.33 304.33 160 future value over a period of three years 1072.99 rate of return 0.07299 7.299 percent

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