How many loan payments must the company make
Problem:
Your company has received a $50,000 loan from an industrial finance company. The annual payments are $6,202.70. If the company is paying 9% interest per year, how many loan payments must the company make?
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At the end of the second year, the account balance is $15,569.75. What was the annual interest rate?
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If the company is paying 9% interest per year, how many loan payments must the company make?
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If the company does not maintain a TIE ratio of at least 5 times, its bank will refuse to renew the loan and bankruptcy will result. What is Picketts TIE ratio?
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