Explore BrainMass

Explore BrainMass

    Loan Payments

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Micro Brewery borrows $300,000 to be paid off in three years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment?

    a. $55,379
    b. $106,059
    c. $30,138
    d. $60,276

    © BrainMass Inc. brainmass.com June 4, 2020, 1:54 am ad1c9bdddf
    https://brainmass.com/business/finance/micro-brewery-loan-payments-426342

    Solution Summary

    This solution calculates the semi-annual payment of a loan.

    $2.19

    ADVERTISEMENT