Calculate the rate of interest implicit in the lease using values:- future value - 230000 present value

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Calculate the rate of interest implicit in the lease using values:-

future value - 230000
present value - 1589567
payment per period - 370000
no of periods - 6
And briefly describe the formula ( rate of interest inplicit in the lease)

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0077400163

6th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Posted Date: May 04, 2023 07:43 AM

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Calculate the rate of interest implicit in the lease using values:- future value - 230000 present value

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Expert Answer:

The formula for calculating the implicit interest rate in a lease is Implicit interest rate PMT n PV ... View the full answer

Intermediate Accounting

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