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Need discussion response: Assume that you borrowed $500 from a friend and promised to repay the loan in five equal annual installments, starting a year from today. Your friend wants to be reimbursed at an 8% annual interest rate. Explain how you would compute the required annual payment. Show your calculations.
Student Name: Instructor: Course: Topic: Discussion Response Calculating Internal Rate of Return Consider your friendâ€™s perspective; The $500 will