A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $2,000 per month for the next three years and then $4,000 per month for two years after that. If the bank is charging customers 10.00 percent APR, how much would it be willing to lend the business owner?
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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 $2,000 per month for the next three years and then $4,000 per month for two years after that. If the bank is charging customers 10.00 percent APR, how much would it be willing to lend the business owner?
Please show your work in detail
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