A company reports the following income statement and balance sheet information for the current year:
Determine the rate earned on total assets.Round your answer to one decimal place.
Definitions:
Interest Rate
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the outstanding loan.
Interest Rate
The percentage of a loan amount charged by the lender to the borrower for the use of assets, expressed as an annual percentage of the principal.
Inflation Rate
The percentage rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.
Profits
Financial gains obtained after subtracting total expenses from total revenue, from business operations or other investments.
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