Question
Commerce Bank offers to lend you $100,000 at an 8.5% annual interest rate to start your new business. The terms require you to amortize the
Commerce Bank offers to lend you $100,000 at an 8.5% annual interest rate to start your new business. The terms require you to amortize the loan with 10 equal end-of-year payments. How much interest would you be paying in Year 2? I can only use TI BA II Plus to solve. please show the steps using the calculator
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Essentials Of Corporate Finance
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D. Jordan
9th International Edition
1259254801, 9781259254802
