Business, 28.02.2020 22:22 Solany6426

Let’s say that you take out a loan in the amount of $100,000. You plan to set aside $1,450 of your monthly profits for the next 10 years to repay the loan. After 10 years have passed, you will make a lump-sum payment with that money to clear the loan. What is the maximum interest rate that you should agree to in order to accomplish this? How did you arrive at your answer?

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Let’s say that you take out a loan in the amount of $100,000. You plan to set aside $1,450 of your m...

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