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In order to preserve cash, Larkspur Inc. negotiated with one of its supplies for amount owing on account. $ 123,289 was paid off by signing
In order to preserve cash, Larkspur Inc. negotiated with one of its supplies for amount owing on account. $ 123,289 was paid off by signing a zero interest note on June 1, 2020, due June 1, 2025, for $ 150,000. What annual rate of interest is being paid by Larkspur? Of the variables listed, choose the variable being calculated. Fill in the remaining variables in the table that follows. Financial Calculator or Tables Variable Excel Present value PV PV $ Future value FV FV $ Interest rate 1 Rate ? Amount of annuity payment PMT PMT Number of periods N Nper Calculate the annual rate of interest Saturn will earn on the note receivable. (Round answer to 0 decimal places, e.g. 25%.) To calculate, use 1. PV.1 Tables Afinancial calculator, or 2. 3. Excel function PV. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. % Rate of interest
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