Question
A company borrows $20000 from a bank, to be amortised over five years at 6.5% per annum. If the payments are to be made on
A company borrows $20000 from a bank, to be amortised over five years at 6.5% per annum. If the payments are to be made on an annual basis at the end of each year, for the first year, the annualprincipalrepayment will be:
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
