Wildhorse Company purchased a machine at a price of $109,900 by signing a note payable, which requires a single payment of $142,324 in 3 years. Click here to view factor tables. Assuming annual compounding of interest, what rate of interest is being paid on the loan? (Round factor values to 5 decimal places e.g. 1.25124 and final answer to O decimal places, e.g. 13%.) Rate of interest %

Wildhorse Company purchased a machine at a price of $109,900 by signing a note payable, which requires a single payment of $142,324 in 3 years. Click here to view factor tables. Assuming annual compounding of interest, what rate of interest is being paid on the loan? (Round factor values to 5 decimal places e.g. 1.25124 and final answer to O decimal places, e.g. 13%.) Rate of interest %

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 14P

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