beachblonde0029
New member
- Joined
- Sep 10, 2009
- Messages
- 1
Ernie Bilko has a business idea. He wants to rent an abandoned gas station for just the months of November and December. He will convert the gas station into a drive-through Christmas wrapping station. Customers will drive in, drop off their gifts, return the next day, and pick up their wrapped gifts. He needs $338,200 to rent the gas station, purchase wrapping paper, hire workers, and advertise. If he borrows this amount at 6 1/2% interest for those two months, what size lump sum payment will he have to make to pay off the loan?
how do i go about solving this?? please, i need help ASAP!
how do i go about solving this?? please, i need help ASAP!
