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Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin
Edition 7ISBN: 978-0073376301Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin
Edition 7ISBN: 978-0073376301 Exercise 54
To finance a new product line, a company that makes high-temperature ball bearings borrowed $1.8 million at 10% per year interest. If the company company repaid the loan in a lump sum amount after 2 years, what was
a) the amount of the payment and b) the amount of interest
a) the amount of the payment and b) the amount of interest
Explanation
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Given information:
• Borrowed amount is...
Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin
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