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2. (8 marks) You just formed your own post-production company and is looking for a loan to finance the purchase of a unit in a
2. (8 marks) You just formed your own post-production company and is looking for a loan to finance the purchase of a unit in a commercial building for a studio. The best offer you can get is a 8-year, $5,000,000 loan at 6% from a local bank. a. What is the monthly payment on this loan? (5 marks) b. What is the effective annual rate of this loan
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Personal Finance
Authors: Jeff Madura
5th edition
132994348, 978-0132994347
