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A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $1,000 per month for the next three years and then $2,000 per month for two years after that. If
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16 votes
16 votes
A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $1,000 per month for the next three years and then $2,000 per month for two years after that. If the bank is charging customers 7. 5 percent apr, how much would it be willing to lend the business owner?.

User Jordi Corominas
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1 Answer

28 votes
28 votes

The answer is $72,800

User AardvarkSoup
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