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Determine interest rate at which the salaries are equivalent

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Q1. RKI Instruments borrowed $4,500,000 from a private equity firm for expansion of its facility for manufacturing carbon monoxide monitors. The company repaid the loan after 1 year with a single payment of $5, 310,000. What was the interest rate on the loan?

Q2. Draw a cash flow diagram for the following problem. Bodine Electric, based in Des Moines, Iowa, USA, makes gear motors with a three-stage, selectively-hardened gearing cluster that is permanently lubricated. The company borrows $20 million for a new distribution facility in Europe and intends to repay the loan in six equal annual payments at an interest rate of 10% per year.

Q3. Last year, Sheila turned down a job that paid $75,000 per year. This year, she accepted one that pays $83,000 per year. Determine the interest rate at which the salaries are equivalent.

Reference no: EM132622103

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