How much can Wells Fargo lend to a developer who will repay the loan by selling 6

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How much can Wells Fargo lend to a developer who will repay the loan by selling 6 view lots at $190,000 each 2 years from now? Assume the bank will lend at a nominal 14% per year, compounded semiannually.

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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Question Posted: Dec 17, 2012 05:38 AM

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How much can Wells Fargo lend to a developer who will repay the loan by selling 6

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Given F 190000 future worth n 2 years number of years i 14 int...View the full answer

Engineering economy

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