Mathematics, 04.09.2020 07:01 mia2286

Ernie Bilko has a business idea. He wants to rent an abandoned gas station for just the months of November and December. He will convert the gas station into a drive-through Christmas wrapping station. Customers will drive in, drop off their gifts, return the next day, and pick up their wrapped gifts. He needs $332,200 to rent the gas station, purchase wrapping paper, hire workers, and
advertise. If he borrows this amount at 61% Interest for those two months, what size lump sum payment will he have to make to pay off the loan? (Round your answer to the nearest cent.)

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Ernie Bilko has a business idea. He wants to rent an abandoned gas station for just the months of No...

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