A $183900 Ioan is repaid by 23 payments of $2500 each at the end of quarter, followed by 29 payments of $6900 each at the end of month. What interest rate il is being charged? A $183900 loan is repaid by 23 payments of $2500 each at the end ofquarter, followed by 29 payments of $6900 each at the end of month.What interest rate il is being charged?

Loan is contract between lender & borrower where lender provide funds to borrower for definite…

Answered: A $183900 Ioan is repaid by 23 payments…

A $183900 Ioan is repaid by 23 payments of $2500 each at the end of quarter, followed by 29 payments of $6900 each at the end of month. What interest rate il is being charged?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...

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A $183900 Ioan is repaid by 23 payments of $2500 each at the end of quarter, followed by 29 payments of $6900 each at the end of month. What interest rate il is being charged?

A $183900 loan is repaid by 23 payments of $2500 each at the end of
quarter, followed by 29 payments of $6900 each at the end of month.
What interest rate il is being charged?

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