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Acme borrowed $100,000 from a local bank, which charges them an interest rate of 7% per year. If ACME pays the bank $8000 per year,
Acme borrowed $100,000 from a local bank, which charges them an interest rate of 7% per year. If ACME pays the bank $8000 per year, how many years will it take to pay off the loan?
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Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
9th edition
978-1337614689
