Question
A few years ago Dimi bought himself a house. He received a loan from his bank of 250,000 euros that he needed to pay
A few years ago Dimi bought himself a house. He received a loan from his bank of 250,000 euros that he needed to pay back with constant monthly payments during 20 years at r1/12 = 0.12%. After five years of paying back the loan, Dimi wants to borrow an additional amount to buy a warehouse for his business. The amount is equal to the principal that has been repaid in that period. How much can he borrow?
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