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your firm needs $143,000 to cover improvements of the warehouse. The bank is willing to loan the money for five equal annual payments of $35,000.
your firm needs $143,000 to cover improvements of the warehouse. The bank is willing to loan the money for five equal annual payments of $35,000. What is the implied interest rate on the loan? Now I know the answer is 676.74 But from this problem how do you calculate the total interest on the loan that would be paid for the life of the loan ( use finance calculator)
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