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RKI Instruments borrowed $4, 800, 000 from a private equity firm for expansion of its facility for manufacturing carbon monoxide monitors. The company repaid the

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RKI Instruments borrowed $4, 800, 000 from a private equity firm for expansion of its facility for manufacturing carbon monoxide monitors. The company repaid the loan after 1 year with a single payment of $5, 184, 000. What was the interest rate on the loan

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