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Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498 Exercise 15
You have $350, which a friend would like to borrow. If you don't lend it to your friend, you could invest it in an opportunity that would pay out $392 at the end of the year. What annual interest rate should your friend offer you to make you indifferent between these two options?
Explanation
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• Present value is $...
Economics 1st Edition by Dean Karlan,Jonathan Morduch
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