Homework Answers
Cost of MAchine = 96,100
Mature value of the note = $151,215
Term of the Note = 4 Years
Interest Rate = ?
At Interest Rate ? , For 4 years Future Value of 96100 is 151,215
FV $1 = 151,215 / 96,100 = 1.5735
Interest Rate ( From the FV $1 Table for 4 Years) = 12% (Answer)
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