Question
Bramble Company purchased a machine at a price of $91,900by signing a note payable, which requires a single payment of $125,685in3years. Assuming annual compounding of
Bramble Company purchased a machine at a price of $91,900by signing a note payable, which requires a single payment of $125,685in3years.
Assuming annual compounding of interest, what rate of interest is being paid on the loan?(Round answer to 0 decimal places, e.g. 13%.)
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MIS Management Information Systems
Authors: Hossein Bidgoli
8th edition
978-1337406932, 1337406937, 978-1337406925, 1337406929, 978-0357004357
