Sally lent a friend $ 10,000 at 1 5 % interest, compounded annually. The loan will be repaid in five equal end - of - year payments. Sally expects the inflation rate to be 10 % . After taking inflation into account, what rate of return is Sally receiving on the loan, rounded to the nearest tenth of a percent?

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14-06-2024
Business

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Sally lent a friend $ 10,000 at 1 5 % interest, compounded annually. The loan will be repaid in five equal end - of - year payments. Sally expects the inflation rate to be 10 % . After taking inflation into account, what rate of return is Sally receiving on the loan, rounded to the nearest tenth of a percent?

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