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Question 4: Average Percentage Rate (2 marks) Calculate the average percentage rate for a company that wants to increase its inventories by $800,000. It

Question 4: Average Percentage Rate (2 marks) Calculate the average percentage rate for a company that wants to increase its inventories by $800,000. It expects the bank to finance at least 60% over 120 days. The bank's interest charges would be $18,000.

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