Question
You just borrowed $12,750 from the bank to use in your business. The loan terms require you to pay the interest annually with the entire
You just borrowed $12,750 from the bank to use in your business. The loan terms require you to pay the interest annually with the entire principle due in six years. The interest rate is 8.95%. How much will you pay to the bank in year five of the loan?
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Finance For Non Financial Managers
Authors: Pierre G. Bergeron
5th Edition
0176104070, 9780176104078
