What is the monthly payment for this loan

Reference no: EM13302306

You find that a small business loan in the amount of 50,000 is the amount you need to purchase the restaurant location. After researching banks to find the best interest rate, you find that banks for small businesses offer the best interest rate of 9% interest that compounds monthly for 7 years.

What is the monthly payment for this loan?

Reference no: EM13302306

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