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Determining the rate of interest of brother

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My uncle borrowed 5,000 bolivars (B5,00) from his brother in Caracas, Venezuela. He promised to repay the loan in two annual installments of B3,000 each. What rate of interest is he paying his brother?

Reference no: EM132641852

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Determining the rate of interest of brother : My uncle borrowed 5,000 bolivars (B5,00) from his brother in Caracas, Venezuela. He promised to repay the loan in two annual installments of B3,000 each.
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