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Homework answers / question archive / You want to borrow $95,000 from local bank to invest in your new business

You want to borrow $95,000 from local bank to invest in your new business

Finance

You want to borrow $95,000 from local bank to invest in your new business. You can afford to make monthly payments of &1950, but no more. What is the highest annual rate you can afford on a 60-month loan?

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