Assume you are financing $346,000 in construction costs on a new building with an interest only...
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Assume you are financing $346,000 in construction costs on a new building with an interest only loan. The APR on the loan is 9.5% and payments are made monthly for 14 years. How much is the final payment? Round your answer to the nearest dollar without rounding any intermediate calculations. Assume you are financing $346,000 in construction costs on a new building with an interest only loan. The APR on the loan is 9.5% and payments are made monthly for 14 years. How much is the final payment? Round your answer to the nearest dollar without rounding any intermediate calculations.
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To calculate the final payment on an interestonly loan we need to determine ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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