Phang Ltd. issues a six-year, $1,058,871 mortgage note on January 1, 2014, to obtain financing for new

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Phang Ltd. issues a six-year, $1,058,871 mortgage note on January 1, 2014, to obtain financing for new equipment. The terms provide for semi-annual instalment payments of $112,825. What is the effective interest rate on the mortgage note payable?

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Principles Of Financial Accounting

ISBN: 9781118757147

1st Canadian Edition

Authors: Jerry J. Weygandt, Michael J. Atkins, Donald E. Kieso, Paul D. Kimmel, Valerie Ann Kinnear, Barbara Trenholm, Joan E. Barlow

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Question Posted: Apr 11, 2018 08:59 AM

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Phang Ltd. issues a six-year, $1,058,871 mortgage note on January 1, 2014, to obtain financing for new

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Principles Of Financial Accounting

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