Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume you decided to go with the loan from maryla

Assume you decided to go with the Loan from Maryland Bank but you cannot afford...

80.2K

Verified Solution

Question

Accounting

Assume you decided to go with the Loan from Maryland Bank but you cannot afford to pay more than $300,000 per period (semi-annually). You are willing to negotiate the interest rate with the bank, though. Using a What If-Analysis application.


How much should you ask the bank to charge in interest in order to make sure that your periodic payment will be $300,000? Assume payments are still made semi-annually for the next 15 years. 



Make sure to explain how you arrive at your answer in cell D4 and if it makes sense relative to your original answer which function(s)/analysis models did you use? What inputs did you use?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students