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Rainier Company borrowed $ 7 9 0 , 0 0 0 for three months. The annual interest rate on the loan was 1 4 percent.
Rainier Company borrowed $ for three months. The annual interest rate on the loan was percent. Rainiers fiscal year ends on December Rainier borrowed the $ one month prior to the start of its current fiscal year and paid back the $ plus interest two months into its current fiscal year.
How much interest expense, if any, would Rainier report at the end of its last fiscal year and at the end of its current fiscal year?What is the present value of $ to be paid in years? The annual interest rate is percent. FV of $ PV of $ FVA of $ and PVA of $
Note: Use appropriate factors from the tables provided. Round your final answer to the nearest whole dollar.
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