Mr. Velasco got a 700,000 loan for the expansion of his business payable monthly in 4 years. How much is the monthly amortization if the interest rate is 12% compounded monthly?
Mr. Velasco got a 700,000 loan for the expansion of his business payable monthly in 4 years. How much is the monthly amortization if the interest rate is 12% compounded monthly?
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 5Q: If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the...
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Mr. Velasco got a 700,000 loan for the expansion of his business payable monthly in 4 years. How much is the monthly amortization if the interest rate is 12% compounded monthly?
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