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  3. you decide to start a new business and need to tak

You decide to start a new business and need to take out a business loan...

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Accounting

You decide to start a new business and need to take out a business loan for $121,000.00 for 29 years at 4.1% compounded monthly, and will make monthly payments. A) What is your unpaid balance after 13 months? Answer S (Round to the nearest cent/penny) B) During that time period, how much interest will you pay? Answer-S (Round to the nearest cent/penny) Question Help: Video Post to forum Submit Question You take out a 33-year mortgage loan for $785000. The annual interest rate of the loan that you pay is 3.9%, and you make monthly payments. In addition to the required monthly payment, you decide to add an extra $410 to your payment to pay the loan off early. After how many payments will the loan be paid off completely? (Note: the last payment you make may not be for the normal amount you would pay, but it still counts as a payment.) Answer The loan will be paid after rounding would be here.) Question Help: Video Post to forum Submit Question months (Think about what the appropriate

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