2. A manufacturer wants to buy $100,000 worth of wood but doesn't have enough funds. The manufacturer approaches the ban

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answerhappygod
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2. A manufacturer wants to buy $100,000 worth of wood but doesn't have enough funds. The manufacturer approaches the ban

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2. A manufacturer wants to buy $100,000 worth of wood but
doesn't have enough funds. The manufacturer approaches the bank and
signs an agreement to purchase the wood from the bank at cost
($100,000) plus profit (maybe 20% percent of the contract amount,
plus 7.5% for security and insurance, for a year installment.
Calculate the monthly installment
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