Mr. Sullivan is borrowing $2 million to expand his business. The loan will be for ten years at 12% and will be repaid in equal quarterly installments. What will the quarterly payments be?
D.
A = $2 million/23.115 = $86,524

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The Answer of Mr. Sullivan is borrowing $2 million to expand his business. The loan will be for ten years at 12% and will be repaid in equal quarterly installments. What will the quarterly payments be?
D.
A = $2 million/23.115 = $86,524

Mr Sullivan Is Borrowing $2 Million to Expand His Business