Home / Questions / Your bank offers to lend you 230000 at an 85 annual interest rate to start your new busine...
Your bank offers to lend you $230,000 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 2?
a.$18,232
b.$14,403
c.$17,503
d.$20,785
e.$15,497
Sep 08 2020 Read more Less More
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