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Question: The NIU running club borrowed $3.500,000 from a firm for an expansion of their track. The running...

Show transcribed image text The NIU running club borrowed $3.500,000 from a firm for an expansion of their track. The running club repaid the loan after 1 year with a single payment of $3, 885,000. What was the interest rate on the loan? 1.11% per year 2.14% per year 3.9% per year 4.7% per year Which of the following 1 year investments has the highest rate of return? $12, 500 that yields $1125 in interest $56,000 that yields $6160 in interest $95,000 that yields $7600 in interest

The NIU running club borrowed $3.500,000 from a firm for an expansion of their track. The running club repaid the loan after 1 year with a single payment of $3, 885,000. What was the interest rate on the loan? 1.11% per year 2.14% per year 3.9% per year 4.7% per year Which of the following 1 year investments has the highest rate of return? $12, 500 that yields $1125 in interest $56,000 that yields $6160 in interest $95,000 that yields $7600 in interest