A friend promises to pay you $600 two years from now if you loan him $500 today. What annual compound interest?

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A friend promises to pay you $600 two years from now if you loan him $500 today. What annual compound interest rate is your friend offering?

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Can you explain how and why as well

I don't see how its negative if it goes up. Wouldn't the answer be around 9.54?

Compounded annually.

A friend promises to pay you $600 two years from now if you loan him $500 today. What annual compound interest?