Portal GIS Question and Answer

A company is planning to purchase a plot of land for $200,000 to build a factory. There are two options offered by a lending institution.

Name: A company is planning to purchase a plot of land for $200,000 to build a factory. There are two options offered by a lending institution.
Rating: 5 (146 reviews)

20-year loan at 3.25% APR compound monthly
30-year loan at 4.75% APR compound monthly

Where you need to:

Calculate the monthly payment for both options.
Calculate the finance charge for both options.
Determine which option is better for the company & explain why

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