What will be the amount of that future repayment

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Juno Manf. Company has decided to build an expansion of its manufacturing facility that will cost $63,022. It has arranged thru the small business association to borrow $36,281 from Allied Bank at an annual interest rate of 6.27%/yr. It will use money from last year's profits to supply the remainder required. The agreement with the bank is that Juno will not make any repayment the until the end of 4 years at which time it will pay back the entire principal and accrued interest. What will be the amount of that future repayment?

Reference no: EM13734316

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