Business, 02.09.2021 15:50 yofavvlele
Lang Warehouses borrowed $146,960 from a bank and signed a note requiring 10 annual payments of $19,032 beginning one year from the date of the agreement. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Required: Determine the interest rate implicit in this agreement.
Using the PVA of $1 chart, solve for i.
Present value:
n=
i=
Annuity payment:
Answers: 1
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Lang Warehouses borrowed $146,960 from a bank and signed a note requiring 10 annual payments of $19,...
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