Question
You are buying a new forklift for your business. It will cost $32,500 and the seller is offering you 3.2% interest You and the lender
You are buying a new forklift for your business. It will cost $32,500 and the seller is offering you 3.2% interest You and the lender have agreed that this loan will be paid back in ONE payment at the end of the 4 years.
How much will you pay if the lender charges compound interest?
How much will you pay if the lender charges simple interest?
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Finance Applications And Theory
Authors: Marcia Cornett, Troy Adair, John Nofsinger
1st Edition
0073382256, 9780073382258
