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Your firm recently sold an asset and financed the sale of the asset. The firm took back a $170,000 loan on the equipment sale with
Your firm recently sold an asset and financed the sale of the asset. The firm took back a $170,000 loan on the equipment sale with monthly payments and 8% interest. The loan was a 5-year loan. Your firm now needs cash and desires to sell the loan. If investors require 14% rate of return to invest in this type of loan and 6 payments have been made on the loan, how much principle will you loose from the sale of this financial asset?
***Please use financial calculator with steps***
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