A small business took out a loan of $50,000 four years ago, and paid it back today

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A small business took out a loan of $50,000 four years ago, and paid it back today with $80,611.30. How much is the annual interest rate applied to this loan if it was compounded monthly?

Related Book For answer-question

Financial Accounting and Reporting a Global Perspective

ISBN: 978-1408076866

4th edition

Authors: Michel Lebas, Herve Stolowy, Yuan Ding

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Posted Date: Oct 07, 2023 06:07 AM

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A small business took out a loan of $50,000 four years ago, and paid it back today

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Financial Accounting and Reporting a Global Perspective

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