Question
Your bank offers to lend you 125,000$ at an 7.45 percent annual interest rate to start your new business. The term require you pay o
Your bank offers to lend you 125,000$ at an 7.45 percent annual interest rate to start your new business. The term require you pay o amortize the loan with 10 equal end of year payments. How much interested would you be paying at year 2?
a. $7,476.78
b. $7,892.16
O c. $9,553.66
d. $6,646.03
O e. $8652.68
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Introduction To Institutions Management And Investments
Authors: Herbert Mayo
10th International Edition
1111820643, 9781111820640
