Question
A friend of Seths who is a real estate developer needs to borrow $80,000 to finish a development project. He is desperate for cash and
A friend of Seth’s who is a real estate developer needs to borrow $80,000 to finish a development project. He is desperate for cash and offers Seth 18%, compounded monthly, for 2 ½ years. Find the future value of the loan using the future value table. Does this loan meet Seth’s goals of low risk? How could he reduce the risk associated with this loan?
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Financial Reporting and Analysis
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
6th edition
9780077632182, 78025672, 77632184, 978-0078025679
