To finance a new product line, a company that makes high-temperature ball bearings borrowed$1.8 million at 10%

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To finance a new product line, a company that makes high-temperature ball bearings borrowed$1.8 million at 10% per year interest. If the company repaid the loan in a lump sum amount after 2 years, what was
(a) The amount of the payment
(b) The amount of interest?

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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