In order to expand, a small business borrows $440,000 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.
In order to expand, a small business borrows $440,000 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.
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 $440,000 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.
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