Question
How long would it take for S&S to pay off the smart loan assuming 30-year traditional mortgage payment? Why is this shorter than the time
How long would it take for S&S to pay off the smart loan assuming 30-year traditional mortgage payment?
Why is this shorter than the time needed to pay off the traditional mortgage?
How much interest would the company save?
Loan - $35,000,000
APR - 5.7%
$35,000,000 at 5.7% APR for 30 years:
Monthly Payment = $203,140.15
Step by Step Solution
There are 3 Steps involved in it
Step: 1
It would take approximately 14 years and 6 months to pay off the Smart Loan assuming ...
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Step: 2
Step: 3
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Essentials Of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
7th Edition
0073382469, 978-0073382463
