Question
Exercise 6-9 Concord Company purchased a machine at a price of $109,700 by signing a note payable, which requires a single payment of $184,851 in
Exercise 6-9
Concord Company purchased a machine at a price of $109,700 by signing a note payable, which requires a single payment of $184,851 in 5 years. Assuming annual compounding of interest, what rate of interest is being paid on the loan? (Round answer to 0 decimal places, e.g. 13%.)
Rate of interest?
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Control And Audit Of Minicomputer Systems
Authors: British Computer Society
1st Edition
0471261866, 978-0471261865
