What is the true rate of interest that the company

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A company sold a ?$1,100,000 issue of bonds with a 18?-year ?life, paying 5?% interest per year. The bonds were sold at par value. If the company paid a selling fee of ?$45,000 and has an annual expense of ?$72,104 for mailing and record? keeping, what is the true rate of interest that the company is paying for the borrowed? money?

Reference no: EM131880105

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