In order to expand, a small business borrows $230,000 at 5.75% compounded quarterly. The loan is due in 6 years, at which time the business will pay it all off at once. How much interest will they pay? Round your answer to two decimal places if rounding is necessary. The $ sign is already written next to the answer box, so do not type a $ sign in your answer.
In order to expand, a small business borrows $230,000 at 5.75% compounded quarterly. The loan is due in 6 years, at which time the business will pay it all off at once. How much interest will they pay? Round your answer to two decimal places if rounding is necessary. The $ sign is already written next to the answer box, so do not type a $ sign in your answer.
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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In order to expand, a small business borrows $230,000 at 5.75% compounded quarterly. The loan is due in 6 years, at which time the business will pay it all off at once. How much interest will they pay? Round your answer to two decimal places if rounding is necessary. The $ sign is already written next to the answer box, so do not type a $ sign in your answer.
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