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Business, 01.10.2019 00:00 breana758

Astart-up company that makes robotic hardware for cim (computer integrated manufacturing) systems borrowed $1.3 million to expand its packaging and shipping facility. the contract required the company to repay the lender through an innovative mechanism called "faux dividends," a series of uniform annual payments over a fixed period of time. if the company paid $305000 per year for five years, what was the interest rate on the loan?

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