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Single-payment loan repayment Personal Finance Problem Kelly borrows $30,000, to start a motor repair business in Hong K
Posted: Sun Apr 17, 2022 6:20 pm
by answerhappygod
- Single Payment Loan Repayment Personal Finance Problem Kelly Borrows 30 000 To Start A Motor Repair Business In Hong K 1 (10.92 KiB) Viewed 86 times
Single-payment loan repayment Personal Finance Problem Kelly borrows $30,000, to start a motor repair business in Hong Kong that she must repay in a lump sum within the next 9 years. The interest rate is 10% annually compounded. There is no prepayment penalty a. What amount will be due if she decides to repay the loan after 2 years? b. How much would she have to repay after 5 years? c. What amount is due at the end of 8 years?