Rate earned on smiths net transaction

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Reference no: EM131313239

Smith lends Jones 1000 on January 1, 2007 on the condition that Jones repay 100 on January 1, 2008, and 1000 on January 1, 2009. Let j be the 6-month rate earned on Smith's net transaction. Calculate j. (hint: PV of payments coming in must equal amount you lend)

Reference no: EM131313239

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