Question: Roger Sterling has decided to buy an ad agency and

Roger Sterling has decided to buy an ad agency and is going to finance the purchase with seller financing— that is, a loan from the current owners of the agency.
The loan will be for $ 2,000,000 financed at a 7 percent nominal annual interest rate. This loan will be paid off over 5 years with end- of- month payments along with a $ 500,000 balloon payment at the end of year 5. That is, the $ 2 million loan will be paid off with monthly payments and there will also be a final payment of $ 500,000 at the end of the final month. How much will the monthly payments be?


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  • CreatedSeptember 11, 2015
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