1.13 RKI Instruments borrowed $4,800,000 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 $5,184,000. What was the interest rate on the loan?

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A: Dear student, kindly check the answer in the explanation box below.Explanation:Dear student, kindly…

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A: (a) FV ($) = 20000 + (20000 x 7% x 10) = 20000 + 14000 = 34000

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A: given that,  Principal (P)= $1000 Annual Rate (R)= 5% Time (t in years)= 8 compounded annually

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Q: Example: Suppose $1500 is deposited at the end of each year for the next 6 years in an account…

A: The amount of annuity (A) = $1500 Total number of years (n) = 6 Interest rate ( r ) = 8%

Q: you borrow $4000 and you have to return it after 3 years, in case of compound interest rate of 6…

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Q: Mr Chen wants to get a lumpsum of 3.5 million pesos when he retires at the end of 20 years. How much…

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A: GIVEN   P = $5000 No. of periods (n)= 9*4 = 36 compounded = 14%

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