Homework answers / question archive / Your friend's father offers to lend you $20,000 to buy a new car

Your friend's father offers to lend you $20,000 to buy a new car

Finance

Share With

Your friend's father offers to lend you $20,000 to buy a new car. You would have to repay him $30,000, which includes interest plus the return of the $20,000, two years later. What interest rate would he be charging you? 22.47% 22.92% 23.38% 23.85% 24.32%