ladyvand3 ladyvand3

13-05-2021
Mathematics

contestada

Assume a bank loan requires an interest payment of $85 per year and a principal payment of $1,000 at the end of the loan's eight-year life. What would be the present value of this loan if it carried an 8.5 percent interest rate?

Respuesta :

iceking08 iceking08

13-05-2021

Answer:

the answer 57.8

85 x 8 x 8.5% = 57.8

Step-by-step explanation:

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