A small business refits its store. The builders charge them $124,000 which will be paid back in monthly installments over three years at 6.4% APR. The builders will reduce this rate to 5.9% APR if they pay $2,480 up front. By approximately how much will this reduce the monthly loan repayments ? A. $103 B. $155 C. $52 D. 207 please use ba II where possible
A small business refits its store. The builders charge them $124,000 which will be paid back in monthly installments over three years at 6.4% APR. The builders will reduce this rate to 5.9% APR if they pay $2,480 up front. By approximately how much will this reduce the monthly loan repayments ? A. $103 B. $155 C. $52 D. 207 please use ba II where possible
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
A small business refits its store. The builders charge them
$124,000
which will be paid back in monthly installments over three years at
6.4%
APR. The builders will reduce this rate to
5.9%
APR if they pay
$2,480
up front. By approximately how much will this reduce the monthly loan repayments ?$103
$155
$52
207
please use ba II where possible
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