A Contractor wishes to borrow $250,000 to finance a construction project. The interest rate is 7.5%...
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A Contractor wishes to borrow $250,000 to finance a construction project. The interest rate is 7.5% per year. If the borrowed amount and the interest are paid back after 4 years, what will be the total amount of repayment, and what portion of this amount will be the interest. (Round to the nearest dollar) A Contractor would like to set aside enough money today in an interest-bearing account to have $250,000 four years and six months from now for the financing of a construction project. Assume interest rate on the investment of 7.5% per year. How much should the contractor set aside? A Contractor wishes to borrow $250,000 to finance a construction project. The interest rate is 7.5% per year. If the borrowed amount and the interest are paid back after 4 years, what will be the total amount of repayment, and what portion of this amount will be the interest. (Round to the nearest dollar) A Contractor would like to set aside enough money today in an interest-bearing account to have $250,000 four years and six months from now for the financing of a construction project. Assume interest rate on the investment of 7.5% per year. How much should the contractor set aside?
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Answer rating: 100% (QA)
1 To calculate the total amount of repayment and the interest portion for the loan you can use the f... View the full answer
Related Book For
Real Estate Finance and Investments
ISBN: 978-0073377339
14th edition
Authors: William Brueggeman, Jeffrey Fisher
Posted Date:
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