How much would it be willing to lend business owner

Assignment Help Financial Management

Reference no: EM131880897

A small business owner visits his bank to ask for a loan. The owner states that he can repay a loan at $2,700 per month for the next three years and then $1,700 per month for two years after that. If the bank is charging customers 9.00 percent APR, how much would it be willing to lend the business owner? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM131880897

Questions Cloud

Describe the most notable physical changes : Describe the most notable physical changes that take place during adolescence for both boys and girls

What is the return on the portfolio : The return on the market is 14.8 percent and there are no unsystematic surprises in the returns. What is the return on the portfolio?

Test the hypothesis that students : If we make no assumptions about the population mean and standard deviation of IQ scores, test the hypothesis that students

What is your evaluation of the straight line method : What issue/s arise in the measurement and/or disclosure for depreciation of assets and what is your evaluation of the straight line method?

How much would it be willing to lend business owner : A small business owner visits his bank to ask for a loan. how much would it be willing to lend the business owner?

Total cholesterol levels of a sample of men : The total cholesterol levels of a sample of men aged? 35-44 are normally distributed with a mean of 219 milligrams per deciliter and a standard deviation

What must have been the salary expense for the year : If the beginning balance in Salaries Payable was $7,700, the ending balance was $8,500, and during the year the cash paid for salaries.

The value of european vanilla put option : What is the lower boundary for the value of a European vanilla put option on this asset with strike price of $80?

Describes the different types of operating systems : Computerized Operating Systems (OS) are almost everywhere. We encounter them when we use out laptop or desktop computer.

User Account

All Pages