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Business, 05.03.2021 05:50, dontcareanyonemo
Lang Warehouses borrowed $196,401 from a bank and signed a note requiring 7 annual payments of $33,942 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. (Do not round intermediate calculations. Round interest rate to 1 decimal place.)
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Lang Warehouses borrowed $196,401 from a bank and signed a note requiring 7 annual payments of $33,9...
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