E6-9 (L02) (Unknown Rate) LEW Company purchased a machine at a price of $100,000 by signing a
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E6-9 (L02) (Unknown Rate) LEW Company purchased a machine at a price of $100,000 by signing a note payable, which requires a single payment of $123,210 in 2 years. Assuming annual compounding of interest, what rate of interest is being paid on the loan?
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