Interest of 600 is charged and included in a loan of 4,200, i.e. the 4,200 received included
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Interest of £600 is charged and included in a loan of £4,200, i.e. the £4,200 received included the £600 interest charged. The loan has to be repaid at £1,050 per quarter over the next 12 months. What is the real rate of interest of the loan?
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To calculate the real rate of interest on the loan we need to determine the true cost of borrowing a...View the full answer
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Related Book For 
Frank Woods Business Accounting Volume 2
ISBN: 9780273693109
10th Edition
Authors: Frank Wood, Alan Sangster
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