Question
Question 9: You have selected a $35,000 delivery van for your business. The auto dealership is offering you two financing options. Loan #1 is a
Question 9:
You have selected a $35,000 delivery van for your business. The auto dealership is offering you two financing options. Loan #1 is a four-year loan, paid monthly, at 6.0%. Loan #2 is a five-year loan, paid monthly at 7.2%. How much more interest will Loan #2 cost over the time of the loan than Loan #1?
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
