A restaurant company borrows $250,000 loan to buy a building for new store development?This is a 8-year loan with an interest rate of 8.4%. Mortgage payments are made at the end of each month starting a month from now?What is the monthly loan payment on this borrowing?

 

Answer rating: 100% (QA)

Answer i In order to calculate the monthly loan payment for a borrowing of 250000 with an interest rate of 84 over an 8year period we must first under... View the full answer