Posted by **Missy** on Monday, November 7, 2011 at 9:01pm.

50,000 is the amount of a loan needed to purchase a restaurant location. After researching to find the best interest rate, you find that banks for small business offer the best interest rate at 9% compounded monthly for 7 years. After making a monthly payment of $804.45 monthly for 6 years what is your remaining balance

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