Company ABC receives proceeds from a note of 880 dollars. The note does not have a stated

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Company ABC receives proceeds from a note of 880 dollars. The note does not have a stated interest rate, and the face amount of the note is 1,000 dollars.

What is the implied interest rate, rounded to one decimal place?

What formula do I use to get this answer?

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 24, 2023 02:07 AM

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Company ABC receives proceeds from a note of 880 dollars. The note does not have a stated

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To calculate the implied interest rate on a note you can use the formula for calculating the present ... View the full answer

Intermediate Accounting

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