Remodeling an old mansion to add modern facility

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Reference no: EM131851141

1. The Purple Pillow is a bed-and-breakfast that is planning to spend $238,700 on remodeling an old mansion to add modern facility. It borrowed 70 percent of the total cost from a 15-year loan with 9 percent APR interest rate. What is the amount of each monthly payment?

2. How are taxes accounted for when we calculate the cost of debt?

Reference no: EM131851141

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