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Kim's Mower approaches a bank for a loan. Kim's Mower can make loan repayment at $4,000 per month for the next three years and then
Kim's Mower approaches a bank for a loan. Kim's Mower can make loan repayment at $4,000 per month for the next three years and then $2,000 per month for the two years after that. If the bank is charging customers 8.5 percent per year compounded monthly, how much would it be willing to lend Kim's Mower? Multiple Choice $160,838.59 $156,494.66 $141,780.74 None of the options are correct
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Entrepreneurial Financial Management An Applied Approach
Authors: Jeffrey R Cornwall, David O Vang, Jean M Hartman
5th Edition
0367335417, 978-0367335410
