Question
An $82,000 business can be purchased by making a down payment of $17,000 and financing the balance with a short-term business loan at 4.50% compounded
An $82,000 business can be purchased by making a down payment of $17,000 and financing the balance with a short-term business loan at 4.50% compounded monthly with monthly payments of $1,765. How long will it take to pay off the loan
Year?
Month?
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Step: 1
To determine how long it will take to pay off the loan we need to calculate the number of months it ...
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Mathematical Applications for the Management Life and Social Sciences
Authors: Ronald J. Harshbarger, James J. Reynolds
11th edition
9781337032247, 9781305465183, 1305108043, 1337032247, 1305465180, 978-1305108042
