- Accounting On August 1, 2
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
22.
Subject :- Accounting
On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $120,300 on
December 31, 2022. The proceeds of the note were $116,100.
b. Calculate the effective interest rate (APR) on the loan.
Note: Enter your answer as a percentage rounded to 1 decimal place (i.e., 32.1).
Effective interest rate
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