Interest of 800 is charged and included in a loan of 5,400, i.e. the 4,600 is received.
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Interest of £800 is charged and included in a loan of £5,400, i.e. the £4,600 is received. The loan has to be repaid at £1,350 per quarter over the next 12 months. What is the real rate of interest of the loan?
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To find the real rate of interest on the loan you can use the formula for calculating the annual per...View the full answer
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Related Book For
Frank Woods Business Accounting Volume 2
ISBN: 9781292085050
13th Edition
Authors: Frank Wood, Alan Sangster
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