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Aleksandr-060686 [28]
3 years ago
13

Best’s Fried Chicken just took out an interest-only loan of $50,000 for three years with an interest rate of 8.15 percent. Payme

nts are to be made at the end of each year. What is the amount of the payment that will be due at the end of Year 3?
Business
1 answer:
posledela3 years ago
4 0

Answer:

54,075 Payment at Year 3

Explanation:

Because is an interest-only loan:

It will pay the principal completely and the interest for the year.

principal x rate = interest paid

50,000 x 0.0815 = 4,075

+ 50,000 principal

54,075 Payment at Year 3

<u>Remember:</u>

interes-only loan means during the life of the loan the monthly or annual payment are for the interest. At maturity, the principal is fully paid.

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Start by clearly defining your topic with a thesis statement.
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Explanation:

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3 years ago
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To raise money to grow the company
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From 1948 to 2003 the United States experienced an average real GDP growth rate of 3.5 percent and Guatemala had an average real
Luda [366]

Answer:

No, we can’t say

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In this question, we are asked to decide if we can say that Guatemala’s standard of living grew more than that of the US’ standard of living between the years 1993 and 2003 given the pointers in the question.

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