A firm obtained a $3 million low-interest loan from a government agency to build a factory in
Question:
a. What will the payments be if the interest rate on the loan is 6% compounded semiannually?
b. Whatisthenominalamountofinterestthatwillbepaidoverthelifetimeoftheloan?
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a The original loan equals the present value of the loan pa...View the full answer
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