hw chapter 3


there are other question in the word decument

  • Columbia Bank & Trust has just given you a $20,000 term loan to pay for a new concrete mixer. The loan requires payment of principal and interest at the end of the 5 years. If the loan provides the bank with a 12 percent return compounded annually, what will be your total loan payoff? What would your payoff be if the loan is compounded monthly.