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2) Decide that You borrowed 100.000 TL from a local Bank with 12% Annual Percentage Rate which will be paid in equal monthly installments
2) Decide that You borrowed 100.000 TL from a local Bank with 12% Annual Percentage Rate which will be paid in equal monthly installments for 12 months. After sixth month (sixth payment is done) it is announced that interest cost is reduced to 9% Annual Percentage Rate. If the fee payment is 500 TL for every loan agreement Will it be profitable to have another loan which substitutes your first loan? (30p)
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
5th edition
978-1259728877, 1259728870, 978-1259565403
