A bank offers to lend your company $70,000, and the loan calls for payments of $8,273.59 per

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A bank offers to lend your company $70,000, and the loan calls for payments of $8,273.59 per year for 20 years. What interest rate is the bank charging you?
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Financial Management Theory and Practice

ISBN: 978-0176517304

2nd Canadian edition

Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason

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