A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $2,000 per month for the next 2 years and then $1,000 per month for 2 years after that. If the bank charges a 9% annual percentage rate (APR) it would be willing to lend to the business owner . A) $60,480 B) $63,598 C) $65,143 D) $62,074

A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $2,000 per month for the next 2 years and then $1,000 per month for 2 years after that. If the bank charges a 9% annual percentage rate (APR) it would be willing to lend to the business owner . A) $60,480 B) $63,598 C) $65,143 D) $62,074

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 14P

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