Your cousin, Willie, has come to you and needs to borrow $2,500. He wants to...
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Accounting
Your cousin, Willie, has come to you and needs to borrow $2,500. He wants to pay you back by making payments every 6 months of $500 for 3 years. What interest rate are you making on your loan to Willie? Select one: a. Less than 6% b. Between 6% and 7% c. Between 7% and 8% d. Between 8% and 9% e. Greater than 9%
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