A bank is willing to lend a developer $200,000 to build a restaurant. The bank expects to
Question:
A bank is willing to lend a developer $200,000 to build a restaurant. The bank expects to be paid back $394,788.79 in 6 years.
Required:
Calculate the annual rate of interest on the loan.
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Related Book For 
Financial Management For The Hospitality Industry
ISBN: 9780131179097
1st Edition
Authors: William P Andrew, James W Damitio
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