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Q1.1. A small Voice over Internet Protocol (VoIP) provider borrowed $2 million for new equipment and repaid the principal of the loan plus $275,000
Q1.1. A small Voice over Internet Protocol (VoIP) provider borrowed $2 million for new equipment and repaid the principal of the loan plus $275,000 interest after 1 year. What was the interest rate on the loan? Q1.2. If the amount due now on a loan taken 1 year ago at an interest rate of 10% per year is $18,000, what was the principal of the loan?
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Financial Reporting Financial Statement Analysis and Valuation
Authors: Clyde P. Stickney
6th edition
324302959, 978-0324302967, 324302967, 978-0324302950
