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A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $1,600 per month for the next three years and then $3,200 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

Respuesta :

Answer:

The bank would be willing to lend the business owner $120,320

Explanation:

In this question, we are asked to state how much will a bank be willing tom lend the business owner that approached it for a loan given the information in the question;

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