Chapter 5: Entreprenuership
The time it takes to pay back the loan or credit. The amount of the loan or credit which is also known as the Principal. Principal x APR x Length of Loan = Finance Charges. $200,000 x .03 x 30 years = $180,000 vs. $200,000 x .03 x 25 years = $150,000. $200,000 x .04 x 30 years = $240,000 vs. $200,000 x .04 x 25 years = $200,000 ................
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