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7) A loan of $200,000 is taken out today at 15% compounded semi-annually for a large marketing program. It will be repaid over 5 years
7) A loan of $200,000 is taken out today at 15% compounded semi-annually for a large marketing program. It will be repaid over 5 years with end-of quarter payments BUT will be deferred for 2 years.
(7 marks-total timeline is 7 years)
a) How much is owing in 2 years?
b) How large are the quarterly payments (end), over the 5 years?
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Financial Accounting An Introduction
Authors: Jacqui Kew, Alex Watson
4th Edition
0199046484, 978-0199046485
