Find annual payments on the loan

Reference no: EM132126010

Question: You plan to be open 50 hours per week for 20 weeks in the year. You therefore anticipate operating costs of $100,000 per year. You would be able to borrow $1,700,000 you need to get started under a 20-year loan. Your annual payments on the loan (principal and interest) will come to $135,000 per year. Assume no other costs.

Reference no: EM132126010

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