Kurt loans Randy $14000. Randy repays the loan by paying Kurt $4000 at the end...
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Kurt loans Randy $14000. Randy repays the loan by paying Kurt $4000 at the end of one year and $6000 at the end of two years and as well as at the end of three years. The money received at t = 1 and at t = 2 is immediately reinvested at an annual eective interest rate of 3%. Correct to the nearest tenth of a percent, nd Randys annual eective interest rate and Kurts annual yield....PLease show how to dfind answer along with answer.
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