Billingsley, inc. is borrowing $60,000 for five years at an apr of 8 percent. the principal is to be repaid in equal annual paym

Question

3 years ago

9

Billingsley, inc. is borrowing $60,000 for five years at an apr of 8 percent. the principal is to be repaid in equal annual paym

ents over the life of the loan with interest paid annually. payments will be made at the end of each year. what is the total payment due for year 3 of this loan?

Business

1 answer:

alexandr1967 [171] · Answer 1 · 2022-03-17T02:25:59+03:00

alexandr1967 [171]3 years ago

6 0

60,000 / 0.8 % = 75,000 loans