Borrower 81777

You lent €400. The borrower paid you €440 back in 5 months. What was the yield on this loan?

Correct answer:

p =  24 %

Step-by-step explanation:

n=5 a=400 eur i=440a=440400=40 eur  a r = i  r=i/a=40/400=101=0.1  r = p/100   12n  p=100 r n12=100 0.1 512=24%



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