A company borrows $75,000 for 5 years. The company makes quarterly interest payments to the lender of

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A company borrows $75,000 for 5 years. The company makes quarterly interest payments to the lender of $2,250. (12% simple interest). The company makes quarterly deposits of $3,324.03 to a sinking fund which earns 5% compounded quarterly.

State the equivalent amortization rate compounded quarterly for this loan in the form xx.xx% using standard rules of rounding.

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Financial Accounting A Critical Approach

ISBN: 978-1259066528

4th edition

Authors: John Friedlan

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Posted Date: Apr 06, 2024 02:22 AM

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A company borrows $75,000 for 5 years. The company makes quarterly interest payments to the lender of

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Financial Accounting A Critical Approach

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