What interest rate does firm pay on its notes payable
Question: 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 interest rate does it pay on its notes payable?
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If the firm pays 8 percent interest on its long-term debt, what interest rate does it pay on its notes payable?
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