Decrease in principal in year


Problem:

If a student borrows $20,000 to start a business as a 5 year, 10% loan, assume annual payments, the decrease in principal in year 1 is

Choose one:

A. $2,000.00

B. $3,275.95

C. $4,000.00

D. $5,275.95

E. None of these

Request for Solution File

Ask an Expert for Answer!!
Finance Basics: Decrease in principal in year
Reference No:- TGS0875991

Expected delivery within 24 Hours