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A $5000 loan is to be amortised with 8 equal, semi-annual payments. If interest is at jz = 9%p.a. (a) Construct the Loan amortization table
A $5000 loan is to be amortised with 8 equal, semi-annual payments. If interest is at jz = 9%p.a.
(a) Construct the Loan amortization table for the first 5 periods
. (b) Write the necessary journal entries for period 2 only.
( c) Proved that the Balance Sheet value at the end of year 1 is $3909.91 using the retrospective method.
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