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Home Q & A Board Other Fields Homework Help Business Accounting
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Biggie_smalls Biggie_smalls
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6 years ago
Punjab Company borrowed $114,000 from its bank. Punjab will repay $140,000 in 7 years. What is the approximate interest rate that Punjab will incur on this loan, assuming annual compounding? (Do not round any intermediary calculations, and round your final answer two decimal places, X.XX%.)
A) 2.16%
B) 2.98%
C) 81.43%
D) 3.79%
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
Authors:
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sophiehuynhsophiehuynh
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6 years ago
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Biggie_smalls Author
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6 years ago
Just got PERFECT on my quiz
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This site is awesome
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Thanks for your help!!
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