Question
Maggies Merchandising (MM) is taking out a new 3-year bank loan for $100,000 at 5% interest. The bank charges 2% closing fees on the loan.
Maggies Merchandising (MM) is taking out a new 3-year bank loan for $100,000 at 5% interest. The bank charges 2% closing fees on the loan. After closing fees what are the net proceeds available to FF? What is the true (effective) interest rate of the loan (assume that MM pays the interest at the end of each year and pays back the principal at maturity)?
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10 Ways To Get Rich From Futures Trading
Authors: Giuseppe Scuti
1st Edition
1983398411, 978-1983398414
