Question
Your bank offers to lend you $100,000 at an 8.5% annual interest rate to start your new business. The terms require you to amortize the
Your bank offers to lend you $100,000 at an 8.5% annual interest rate to start your new business. The terms require you to amortize the loan with 10 equal end-of-year payments. How much interest would you be paying in Year 1?
| $8,323 | ||
| $9,177 | ||
| $7,927 | ||
| $8,740 | ||
| $8,500 |
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Shape Up Your Finances
Authors: Ian Birt
2nd Edition
1925716422, 978-1925716429
