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Como Company borrowed $4.,990 from ts bank Com will repay $7,000 in fve years. What is the approxcimate interest rate that Como wll ncur on
Como Company borrowed $4.,990 from ts bank Com will repay $7,000 in fve years. What is the approxcimate interest rate that Como wll ncur on this loan, assuming annual compounding? Use the future value of $1 table. Excerpt of Future Value of $1 Table Periods 7% 107000 1.14490 8% 22504 131080 140255 1.50073 08000 1.16640 125971 .36049 1.46933 1.58687 9% 109000 1,18810 29503 .41158 1.53862 1.67710 A. 29% . 9% . 8% OD, 7%
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Loose Leaf Fundamental Financial Accounting Concepts
Authors: Thomas Edmonds, Frances McNair, Philip Olds
8th Edition
0077433807, 978-0077433802
