Assuming an interest rate of 8%, calculate interest on the loan, and update the new cash balance
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Assuming an interest rate of 8%, calculate interest on the loan, and update the new cash balance to show the payment of the interest.
If there are no funds available to pay the interest, the bank would be prepared to defer payment until such time as things improve, but they will charge interest on any unpaid interest.
AppendixLO1
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Related Book For
Practical Financial Modelling A Guide To Current Practice
ISBN: 188636
2nd Edition
Authors: Jonathan Swan
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