Wildhorse Company purchased a machine at a price of $109,900 by signing a note payable, which...

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Wildhorse Company purchased a machine at a price of $109,900 by signing a note payable, which requires a single payment of $142,324 in 3 years. Click here to view factor tables. Assuming annual compounding of interest, what rate of interest is being paid on the loan? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 13%.) Rate of interest % Wildhorse Company purchased a machine at a price of $109,900 by signing a note payable, which requires a single payment of $142,324 in 3 years. Click here to view factor tables. Assuming annual compounding of interest, what rate of interest is being paid on the loan? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 13%.) Rate of interest %

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To find the rate of interest being paid on the loan we can use t... View the full answer