Business, 20.02.2020 22:37, hmock65

On March 28, 2008, Daniela Motor Financing (DMF), offered some securities for sale to the public. Under the terms of the deal, DMF promised to repay the owner of one of these securities $100,000 on March 28, 2028, but investors would receive nothing until then. Investors paid DMF $22,364 for each of these securities.

Based on the $22,364 price, what rate was DMF paying to borrow money?

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On March 28, 2008, Daniela Motor Financing (DMF), offered some securities for sale to the public. Un...