A broadband service company borrowed $2 million for new equipment and repaid the loan in amounts of

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A broadband service company borrowed $2 million for new equipment and repaid the loan in amounts of $200,000 in years 1 and 2 plus a lumpsum amount of $2.2 million at the end of year 3. What was the interest rate on the loan?

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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Question Posted: Dec 12, 2018 10:33 AM

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A broadband service company borrowed $2 million for new equipment and repaid the loan in amounts of

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Engineering Economy

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