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Rate of Return
I am trying to find the effective rate of return for the following:
Present Value $100,000 3 yrs = 0 payments 7 yrs = $1460.86 per payment Life of loan is 10 yrs. If I calculate just on the 7 yrs, I get 6%, but isn't there a way to find the effective rate of return over the entire life of the loan? Any help you can provide would be greatly appreciated. Thank you! |
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