Business, 25.02.2020 20:46, jessicaou2005

Matthew needed money for some unexpected expenses, so he borrowed $2,587.09 from a friend and agreed to repay the loan in three equal installments of $950 at the end of each year. What is the implied interest rate in this agreement?

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Matthew needed money for some unexpected expenses, so he borrowed $2,587.09 from a friend and agreed...