Teachers, save “Borrowing & Sources of Finance” to assign it to your class.

You need to borrow €3,000 over one year to go on holiday. Research one financial institution where you could borrow this money. 1. What is the name of your chosen financial institution? 2. What type of finance is this? (Short, medium, long) 3.What is the interest rate? 4. What will you need to pay back every month? 5. What will you have to pay back in total over 1 year?