What annual rate of return is implied on a $1,700 loan taken next year when $3,600 must be repaid in year 9?

What annual rate of return is implied on a $1,700 loan taken next year when $3,600 must be repaid in year 9?

9.83%

PV = 1,700, N = (9 − 1) = 8, FV = −3,600, PMT = 0, CPT I = 9.83%

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