Question
Y our bank offers to lend you $114,400 at an 8.5% annual interest rate to start your new business. The terms require you to amortize
Your bank offers to lend you $114,400 at an 8.5% annual interest rate to start your new business. The terms require you to amortize the loan with 12 equal end-of-year payments. How much interest would you be paying in Year 2?
| a. | $9,068.53 | |
| b. | $7,254.82 | |
| c. | $8,161.67 | |
| d. | $9,226.59 | |
| e. | $8,615.10 |
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Multifractal Financial Markets An Alternative Approach To Asset And Risk Management
Authors: Yasmine Hayek Kobeissi
1st Edition
1461444896, 978-1461444893
