A bank makes a $50,000 loan and will receive payments of $600 each month for...
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Accounting
A bank makes a $50,000 loan and will receive payments of $600 each month for 20 years as repayment. What is the rate of return to the bank for making this loan?
a. 10.92%
b. 1.12%
c. 0.91%
d. 13.4%
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