Question
Your company has taken out a $100,000 loan over two and a half years with interest initially at 9% per half-year, and payments due at
Your company has taken out a $100,000 loan over two and a half years with interest initially at 9% per half-year, and payments due at the end of each period. What is the annual interest rate effectively levied on this loan?
A. 16.22%
B. 16.23%
C. 18.56%
D. 18.81%
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Fundamental Accounting Principles Volume I
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
978-1260305821
