You are in desperate need of cash and turn to your uncle, who has offered to...

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You are in desperate need of cash and turn to your uncle, who has offered to lend you some money. You decide to borrow $1,360

business finance

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Answer 1

Answer #1

Rate of interest charged by uncle:-

=RATE(nper,pmt,pv,fv)

=RATE(2,,-1360,1570)

=7.44%

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Answer 2

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