RKI Instruments borrowed $4,800,000 from a private equity firm for expansion of its facility for manufacturing carbon
Question:
RKI Instruments borrowed $4,800,000 from a private equity firm for expansion of its facility for manufacturing carbon monoxide monitors. The company repaid the loan after 1 year with a single payment of $5,184,000. What was the interest rate on the loan?
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Venkat p
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Andhra University, Visakhapatnam.
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