Martin is offered an investment where for $6,000 today, he will receive $6,420 in one...
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Finance
Martin is offered an investment where for $6,000 today, he will receive $6,420 in one year. He decides to borrow $6,000 from the bank to make this investment. What is the maximum interest rate the bank needs to offer on the loan if Martin is at least to break even on this investment? A. 5% B. 6% C. 7% D. 8%
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