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The Jones-Pilsen company bought some high tech equipment to increase production.

In 240 days, Jones-Pilsen must make a single payment of $45, 000 to pay for the equipment. Currently (as of today) the company has $42, 000.

If Jones-Pilsen puts the money in a bank today, what rate of interest will it need to pay off the equipment in 240 days? (Please a 360 days for this question).

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92799804

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