Question: RKI Instruments borrowed $ 7 , 5 0 0 , 0 0 0 from a private equity firm for the expansion of its facility for

RKI Instruments borrowed $7,500,000 from a private equity firm for the expansion of its facility for manufacturing carbon monoxide monitors. The company repaid the loan after 1 year with a single payment of $9,000,000. What was the interest rate on the loan?

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