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The Jasmine Tea Company purchased merchandise from a supplier for $ 3 6 , 9 0 2 . Payment was a noninterest - bearing note
The Jasmine Tea Company purchased merchandise from a supplier for $ Payment was a noninterestbearing note requiring Jasmine to make five annual payments of $ beginning one year from the date of purchase. What is the interest rate implicit in this agreement? Note: Do not round intermediate calculations. Round the interest rate to decimal place. Show less Present Value: n i Annuity Payment
The Jasmine Tea Company purchased merchandise from a supplier for $ Payment was a noninterestbearing note requiring Jasmine to make five annual payments of $ beginning one year from the date of purchase. What is the interest rate implicit in this agreement?
Note: Do not round intermediate calculations. Round the interest rate to decimal place.
Show less
Present Value:
n
i
Annuity Payment
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