Question
RKI Instruments borrowed $4,550,000 from a private equity firm for expansion of its facility for manufacturing carbon monoxide monitors. The company repaid the loan after
RKI Instruments borrowed $4,550,000 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 $5,375,000. What was the interest rate on the loan?
The interest rate on the loan was 84.65 84.65 Incorrect % per year.
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The Entrepreneur's Growth Startup Handbook 7 Secrets To Venture Funding And Successful Growth
Authors: David N. Feldman
1st Edition
1118445651, 978-1118445655
