Question
You're starting an Engineering business and have been presented with two options for a 5-year $75,000 loan: (a) an interest rate of 8% with monthly
You're starting an Engineering business and have been presented with two options for a 5-year $75,000 loan: (a) an interest rate of 8% with monthly compounding or (b) an interest rate of 10% with quarterly compounding. What is the future value of each option and which is the better choice?
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Analysis for Financial Management
Authors: Robert c. Higgins
8th edition
73041807, 73041803, 978-0073041803
