You just took out a $12,000 loan for your small
business. The loan has a 4 year term and repayment is in the form of 4 equal
end-of-year payments. The interest rate on the loan is 11.5%. What are your
annual loan payments?
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He observes that work expands so as to fill the time available for its completion.
below is the solution
Principle amount =$12000
Time= 4 years
int rate =11.5%
therefore annual loan payment is
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