Bank is willing to let business have an intermediate-term, Ask an Expert

Economics

Q. owners of a successful restaurant want a loan for $50,000 to renovate kitchen and expand dining room. y expect that extra tables will add between $2,000 and $5,000 to restaurant's monthly revenue. Bank is willing to let business have an intermediate-term loan of $50,000 for five years at an interest rate of 6.5 percent. Estimate monthly payment and elucidate where taking this loan is a smart business decision

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Business Economics, Economics

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