Homework Solutions  
» Home

See All Homework
Questions here

Question Description

Posted by: Annie kavitha
Price Quoted by Student: $3
Posted On: 2010-07-24 07:07:03

A firm has notes payable of $1,546,000, long-term debt of $13,000,000, and total interest expense

of $1,300,000. If the firm pays 8 percent interest on its long-term debt, what rate of interest does it pay on its notes payable?

a. 8.2%

b. 13.1%

c. 16.8%

d. 18.0%

e. 15.3%

SOLUTIONTotal interest expense 1,300,000 Less int
Price $3
Attachment 1: A firm has notes.doc
Solution Posted By: Annie kavitha    Posted on: 24-07-2010