An $82,000 business can be purchased by making a down payment of $17,000 and financing the balance

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An $82,000 business can be purchased by making a down payment of $17,000 and financing the balance with a short-term business loan at 4.50% compounded monthly with monthly payments of $1,765. How long will it take to pay off the loan

Year?

Month?

Related Book For answer-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Posted Date: Apr 29, 2024 12:02 AM

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An $82,000 business can be purchased by making a down payment of $17,000 and financing the balance

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To determine how long it will take to pay off the loan we need to calculate the number of months it ... View the full answer

Mathematical Applications for the Management Life and Social Sciences

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