CourseWork

Not Rated (0)

$15/per page/

About CourseWork

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Applied Sciences,Chemistry See all
Applied Sciences,Chemistry,Communications,Economics,Engineering,Environmental science Hide all
Teaching Since: Apr 2017
Last Sign in: 363 Weeks Ago, 5 Days Ago
Questions Answered: 352
Tutorials Posted: 351

Education

  • MBA,PHD in Psychology
    Northwest Florida State College
    Jun-1992 - May-1997

Experience

  • Professor
    Northwest Florida State College,
    Aug-2006 - Nov-2015

Category > Economics Posted 08 May 2017 My Price 7.00

A restaurant is considering purchasing a lot adjacent

A restaurant is considering purchasing a lot adjacent to its business to provide adequate parking space for its customers. The restaurant needs to borrow $35,000 to secure the lot. A deal has been made between a local bank and the restaurant so that the restaurant would pay the loan back over a five-year period with the following payment terms: 15%, 20%, 25%, 30%, and 35% of the initial loan at the end of first, second, third, fourth, and fifth years, respectively.

 

(a) What rate of interest is the bank earning from this loan?

 

(b) What would be the total interest paid by the restaurant over the five-year period?

Answers

CourseWork
Not Rated (0)
Status NEW Posted 08 May 2017 11:05 AM My Price 7.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g S-----------obt-----------ell----------- an-----------d a-----------cqu-----------isi-----------tio-----------n o-----------f m-----------y p-----------ost-----------ed -----------sol-----------uti-----------on.----------- Pl-----------eas-----------e p-----------ing----------- me----------- on----------- ch-----------at -----------I a-----------m o-----------nli-----------ne -----------or -----------inb-----------ox -----------me -----------a m-----------ess-----------age----------- I -----------wil-----------l b-----------e c-----------atc-----------h

Not Rated(0)