Question
A pottery factory purchases a continuous belt conveyor kiln for $60,000. A 6.5% APR loan with monthly payments is taken out to purchase the kiln.
A pottery factory purchases a continuous belt conveyor kiln for $60,000.
A 6.5% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are
$544.87, over what term is this loan being paid?
A.15 years
B.14 years
C.13 years
D.12 years
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Financial Management An Introduction
Authors: Jim McMenamin
1st Edition
0415181623, 9780415181624
