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QUESTION
Question 4 To expand its operation in Ontario, the Dundar Mifflin has applied for a
Question 4
To expand its operation in Ontario, the Dundar Mifflin has applied for a
$3,500,000 loan from the TD Bank. According to Dundar Mifflin financial analyst, the company can only afford a maximum yearly loan payment of $1,000,000. The bank has offered Dundar Mifflin the following:
Option 1: 3 year loan with an 8 percent interest rate
Option 2: 4 year loan with a 10 percent interest rate
Option 3: 5 year loan with a 12 percent interest rate
Required:
