Question
Because of your good credit, your bank will reduce the interest rate on your 12,000 loans from 9% to 7.5% per year. How much will
Because of your good credit, your bank will reduce the interest rate on your 12,000 loans from 9% to 7.5% per year. How much will you save in interest this year thanks to the change?
The amount you will save as interest this year is $______________ (rounded to the nearest dollar)
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Entrepreneurial Finance
Authors: J. Chris Leach, Ronald W. Melicher
6th edition
1305968352, 978-1337635653, 978-1305968356
