A company has two outstanding loans. The first one is for $20,000 at an interest rate of
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A company has two outstanding loans. The first one is for $20,000 at an interest rate of 15% p.a. and it was due six months ago and the second one is for $15,000 at an interest rate of 9.5% p.a. due today. The company re-negotiated to pay both loans with a single payment in four months. Calculate the repayment amount. Use four months from now as the focal date.
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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