Question
A broadband service company borrowed $2 million for new equipment and repaid the loan in amounts of $204,000 in years 1 and 2 plus a
A broadband service company borrowed $2 million for new equipment and repaid the loan in amounts of $204,000 in years 1 and 2 plus a lump sum amount of $2.05 million at the end of year 3. What was the interest rate on the loan?
The rate of interest on the loan was ___%.
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Financial Reporting And Statement Analysis A Strategic Approach
Authors: Clyde P. Stickney, Paul Brown, James M. Wahlen
5th Edition
032418638X, 978-0324186383
