Business, 03.07.2020 20:01 xxaurorabluexx

Big T Burgers and Fries Corp. needs to take out a one-year bank loan of $500,000 and has been offered loan terms by two different banks. One bank has offered a simple interest loan of 10% that requires monthly payments. The loan principal will be paid back at the end of the year. Another bank has offered 7% add-on interest to be repaid in 12 equal monthly installments.

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Big T Burgers and Fries Corp. needs to take out a one-year bank loan of $500,000 and has been offere...

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