Engineering Economy – Problem 1.9

ByEngineeringCheatSheet.com

RKI Instruments borrowed $3,500,000 from a private equity firm for the expansion of its manufacturing
facility for making carbon monoxide monitors/ controllers. The company repaid the loan after
1 year with a single payment of $3,885,000. What was the interest rate on the loan?

Sample problems and notes are based on the following textbook: Engineering Economy 7th Edition

ISBN-13: 978-0073376301

ISBN-10: 0073376302

Edition: 7

Author: Leland Blank, Anthony Tarquin 

Published Date: 2011

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