quarters from today will it take for petrochemicals to pay off its loan
Petrochemicals is a start up company in ordered to get ready for business Petrochemicals decideds t Show more Petrochemicals is a start up company in ordered to get ready for business Petrochemicals decideds to borrow $700235 today at a 9 percent annual interest compounded quarterly. Petrochemicals will repay the loan from the bank quarterly with each payment being around $45000 each the the first begining payment due in 1 year from now. How many quarters from today will it take for petrochemicals to pay off its loan. Please use a cash flow diagram and show all appropiate steps. Show less
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