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Your bank offers to lend you 230000 at an 85 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

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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