Your firm recently sold an asset and financed the sale of the asset. The firm took...

Your firm recently sold an asset and financed the sale of the asset. The firm took back a $170,000 loan on the equipment sale with monthly payments and 8% interest. The loan was a 5-year loan. Your firm now needs cash and desires to sell the loan. If investors require 12% rate of return to invest in this type of loan and 6 payments have been made on the loan, how much will your firm receive from the sale of this financial asset? Also how much principle will you lose if you sell the loan?

***Please use financial calculator with steps written down for the keystrokes***

Expert Solution

ekkarill92 answered 2 years ago

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