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Corporate FInace Assignment/ Professional Essay Writers

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May 16th, 2020

A borrows $33000 for 11 years and repays the loan with level annual payments at the end of each year. B also borrows $33000 for 11 years but pays only interest as it is due each year and plans to repay the entire loan at the end of the 11-year period. Both Loans carry an effective interest rate of 7.5%. How much more interest will B pay than A pays over the life of the loan? Note: Please round A’s yearly payment to the nearest cent first, then use it to calculate the interest paid by A. ANSWER = $______.  Get Finance Help Today

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