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markellg1128
22.09.2020 •
Business
RKI Instruments borrowed $4,300,000 from a private equity firm for expansion of its facility for manufacturing carbon monoxide monitors. The company repaid the loan after 1 year with a single payment of $5,225,000. What was the interest rate on the loan
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Ответ:
21.51%
Explanation:
RKI instruments borrowed $4,300,000 from a private equity firm to expand its facility.
A year after the loan was repaid with a single payment of $5,225,000
Therefore the interest rate on the loan can be calculated as follows
= 5,225,000-4,300,000/4,300,000 × 100
= 925,000/4,300,000 × 100
= 0.2151 × 100
= 21.51%
Hence the interest rate of the loan is 21.51%
Ответ:
creating a niche.
Explanation: