You lend a friend ​$​, which your friend will repay in equal annual​ end-of-year payments of ​$​, with the first payment to be received 1 year from now. What rate of return does your loan​ receive?

18%

Explanation:

The payments that your friend will make are an annuity as they are constant. This means that the loan amount of $15,000 is the present value of the annuity.

To find the rate of return, use the factor tables.

Present value of annuity = Annuity * Present value interest factor of annuity, 14 years, ?%

15,000 = 3,000 * Present value interest factor of annuity, 14 years, ?%

Present value interest factor of annuity, 14 years, ?% = 15,000 / 3,000

Present value interest factor of annuity, 14 years, ?% = 5.0

Go to the present value of annuity factor table and find out what interest rate intersects with 14 periods such that the factor is 5.0.

That rate is 18%.

Rate of return is therefore 18%.

answer: 11/12

step-by-step explanation: 4 1/4 and 3 1/3 is equivalent to 4 3/12 and 3 4/12. 4 3/12 - 3 4/12 =11/12

answer; ///blank(1) longer; blank(2); lessi believe this is correct, plz check first; good luck';