You are a big financial success and you want to purchase the Remlab Company for $35 billion.
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You are a big financial success and you want to purchase the Remlab Company for $35 billion. You have $5 billion in cash, but need to borrow the remaining $30 billion from your friendly banker. You banker says fine, I’ll lend you the money for 10 years, but at 7.5 percent annual interest compounded quarterly. How much interest will you pay to the bank over the life of this loan?
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Related Book For
Exploring Engineering An Introduction to Engineering and Design
ISBN: 978-0123747235
2nd edition
Authors: Philip Kosky, George Wise, Robert Balmer, William Keat
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