You just took out a $12,000 loan for your small business. The loan has a four year term and repayment is in the form of four equal end-of-year payments. The interest rate on the loan is 11.5%. Consider the final loan payment
How much principal do you pay in the final payment?
A) $3,506.09
B) $2,529.29
C) $2,820.16
D) $3,144.48
E) $3,909.29
A
Business
You might also like to view...
Discuss six approaches that are used by companies now to stimulate innovation
What will be an ideal response?
Business
Which of the following appears as a line item in a contribution margin income statement?
A) Gross profit B) Total cost of goods sold C) Operating income D) Total selling and administrative expenses
Business