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Determining the annual interest rate

Today Williamson Hospital lends its Home Health Care Center $886,330. The center expects to repay the loan in quarterly installments of $100,000 for three years, with the first payment starting one quarter from now. What annual interest rate is the hospital charging for this loan?

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Determining the annual interest rate

Reference No:- TGS0559171

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Determining the annual interest rate

Reference No:- TGS0559171

Recent Questions Asked Finance Basics

Q : What effect does consolidation have for transations

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