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Erindale Bank offers Premier Snowboards a $80,000, 5-year term loan at 3.5% annual interest. a. What will their annual loan payment be? b. Using the

Erindale Bank offers Premier Snowboards a $80,000, 5-year term loan at 3.5% annual interest. a. What will their annual loan payment be? b. Using the information from Question 3, how will this impact the Times Interest Earned ratio if these additional interest charges added to existing interest expense? c. Should Erindale bank be concerned?

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