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Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $13,400 9.4 5 3 4 years

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 18P

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Question

Find the amount (in $) of interest on the loan.

Principal

Rate (%)

Time

Interest

$13,400

9.4

years

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