Multiple Choice
A company purchases a piece of property with a fair market value of $100,000, paying for it by signing a note payable requiring cash payments of $20,000 at the beginning of each year for six years. What is the interest rate implicit in the note?
A) 6%.
B) 7%
C) 8%
D) 9%.
Correct Answer:
Verified
Correct Answer:
Verified
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