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    Business
  3. Study Set
    Using Financial Accounting
  4. Exam
    Exam 9: Current Liabilities, Contingencies, and the Time Value of Money
  5. Question
    Assume That You Know the Total Dollar Amount of a Loan
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Assume That You Know the Total Dollar Amount of a Loan

Question 154

Question 154

Essay

Assume that you know the total dollar amount of a loan and the amount of the monthly payments.How can you determine the interest rate as a percentage of the loan?

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The interest rate of the loan could be c...

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