John is planning to buy a new Rav4. He has borrowed $3,500,000 from FGB at an interest
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Question:
John is planning to buy a new Rav4. He has borrowed $3,500,000 from FGB at an interest rate of 12% per annum for 6 years.
(a) Calculate his annual payment
(b) Prepare an amortization schedule for the life of the loan
Related Book For
Corporate Finance and Investment decisions and strategies
ISBN: 978-1292064062
8th edition
Authors: Richard Pike, Bill Neale, Philip Linsley
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