You loan a friend $200 and are repaid $30 at the end of each month for the first 3 months and $120 at the end of the fourth month.  What is your rate of return?

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter5: Making Automobile And Housing Decisions
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You loan a friend $200 and are repaid $30 at the end of each month for the first 3 months and $120 at the end of the fourth month.  What is your rate of return

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