Business, 21.09.2021 17:30 Mastersonisnot

Doolittle Holidays has decided to invest £4,000,000 in a new caravan park in North Wales. Its decision was made following the recent trend in British holiday makers choosing to stay closer to home when taking summer breaks. It intends to borrow the £4,000,000 from the bank and repay it over 10 years at an interest rate of 8.7%.Activity: Calculate the total amount of interest Doolittle Holidays will pay over the life of the loan (give your answer to two decimal places)

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Doolittle Holidays has decided to invest £4,000,000 in a new caravan park in North Wales. Its decisi...