I received a proposal for a loan of $80,000, which I would have to repay in twenty-four fixed, monthly, due payments of $4,229.69. My minimum acceptable rate of return (m) is 3.5% per month. Using the criterion of the rate of return supported by an external rate, what recommendation would be given?

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Based on the external rate of return ERR criterion the loan seems favorable Heres why 1 Calculate th... View the full answer