you want to start a new business and you need $200,000 to start, market and run your business. Because you think the business will be short-lived for some reason, you want to pay off this $200,000 balance in seven equal payments. Since the interest rate is 15%, how much will your monthly payments be?

Answer rating: 100% (QA)

This scenario can be modeled using the formula for the present value ... View the full answer