Alison pearson has decided to buy an existing business and, Ask an Expert

Finance

Alison Pearson has decided to buy an existing business and is going to finance the purchase with vendor financing (a loan from the current owners of the business).

The loan will be for $2,100,000 financed at a 8% nominal annual interest rate. This loan will be paid off over 10 years with end-of-month payments along with a $600,000 lump-sum payment compounded annually at the end of year 10.

How much will the monthly payments be?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92839103

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