A broadband service company borrowed $2 million for new equipment and repaid the loan in amounts of
Question:
A broadband service company borrowed $2 million for new equipment and repaid the loan in amounts of $200,000 in years 1 and 2 plus a lumpsum amount of $2.2 million at the end of year 3. What was the interest rate on the loan?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
0 2000000 20000...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
At the end of 2013, Geothermal Heating Ltd. had total assets of $17.4 million and total liabilities of $9.2 million. Included among the assets were property, plant, and equipment with a cost of $4.8...
-
At the end of 2016, Geothermal Heating Ltd. had total assets of $17.4 million and total liabilities of $9.2 million. Included among the assets were property, plant, and equipment with a cost of $4.8...
-
Consider the demand for broadband Internet service, given as follows: QD = 224 4P, where Q is the number of subscribers in a given area (in hundreds) and P is the price in dollars per month. This...
-
Which one of the following results from the latest decision round are least important in providing guidance to company managers in making their strategic moves and decisions to improve their...
-
The Commonwealth of Virginia filed suit in October 2016, against Northern Timber Corporation seeking civil penalties and injunctive relief for violations of environmental laws regulating forest...
-
Review the pairs of economies listed below. Each pair has 1 highly successful country and 1 less successful country, except for NAFTA /EU. NAFTA vs. European Union (the world's two largest economic...
-
Gavin Jones is inquisitive and determined to learn both the theory and the application of investment theory. He pressed the tree farmer for additional information and learned that it was possible to...
-
Multiple Choice 1. The actuarial present value of all the benefits attributed by the pension benefit formula to employee service rendered before a specified date based on expected future compensation...
-
Carla Vista manufactures mountain bikes. Its sales mix and contribution margin information per unit are as follows: Sales Mix Contribution Margin Destroyer 14% $130 Voyager 62% 62 Rebel 24% 48 It has...
-
On Monday morning, April 28, George Smith was given the news that effective May 1 he would receive a raise of 6 percent. This raise came two months before his scheduled performance appraisal. His...
-
Swagelok Enterprises is a manufacturer of miniature fittings and valves. Over a 5-year period, the costs associated with one product line were as follows: first cost of $30,000 and annual costs of...
-
Barron Chemical uses a thermoplastic polymer to enhance the appearance of certain RV panels. The initial cost of one process was $130,000 with annual costs of $49,000 and revenues of $78,000 in year...
-
Use the concept of marginal utility to explain the following: Newspaper vending machines are designed so that once you have paid for one paper, you could take more than one paper at a time. But soda...
-
Rocco Valentino shops only at Walmart because Rocco believes he will receive the lowest price without further hassles. This type of pricing strategy is known as __________ pricing. a. dynamic b....
-
What results when there is an increase in overall prices? a. Inflation b. Deflation c. Expansion d. Recession
-
A social environment is an interconnected system of different demographic factors such as a. climate conditions. b. globalization and political conditions. c. gender, age, and income. d. tax policy...
-
The U.S. Postal Service and Amtrak are examples of large organizations operated by the federal government. Discuss the pros and cons of privatizing these businesses.
-
a. Draw the load line for the network of Fig. 4.122 on the characteristics of Fig. 4.121 using b from problem 8 to find IBQ. Fig. 4.122 Fig. 4.121 b. Find the Q -point and resulting values ICQ and...
-
Carnival Corporation & plc is one of the largest cruise companies in the world with such well known brands as Carnival Cruise Lines, Holland America Line, and Princess Cruises. Classify each of the...
-
A horizontal annulus with inside and outside diameters of 8 and 10 cm, respectively, contains liquid water. The inside and outside surfaces are maintained at 40 and 20oC, respectively. Calculate the...
-
Anion, an environmental engineering consulting firm, is trying to be eco-friendly in acquiring an automobile for general office use. It is considering a gasoline-electric hybrid and a gasoline-free...
-
A pipeline engineer working in Kuwait for the oil giant BP wants to perform a present worth analysis on alternative pipeline routings-the first predominately by land and the second primarily...
-
An electric switch manufacturing company has to choose one of three different assembly methods. Method A will have a first cost of $40,000, an annual operating cost of $9000, and a service life of 2...
-
Determine "Tyson Food "Company's firmographics, activities, and objectives. Then relate these differences to differences in the organizational cultures of the organizations. or provide detail of any...
-
Wimble Ltd had $400 million of debt outstanding at an interest rate of 9% and $600 million of equity (market value) outstanding. Wimble is subject to a 30% corporate tax rate. What is the amount of...
-
explain and comments thies pints Has existed for a long time One of the original fast-food establishments High standing Commonly recognized for its root beer. With high-quality cuisine Markets to...
Study smarter with the SolutionInn App