Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin

تمرين 55

Gesky Industrial Products manufactures brushless blowers for boilers, food service equipment, kilns, and fuel cells. The company borrowed $18,000,000 for a plant expansion and repaid the loan in seven annual payments of $3,576,420, with the fi rst payment made 1 year after the company received the money. What was the interest rate on the loan Use hand and spreadsheet solutions.