Question
A loan of $10,000 is to be repaid by 4 equal annual payments at 12% p.a. (a) Calculate the annual repayment. (b) Complete the loan
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A loan of $10,000 is to be repaid by 4 equal annual payments at 12% p.a.
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(a) Calculate the annual repayment.
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(b) Complete the loan amortisation schedule.
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(c) What is the total amount of interest payable over the loans term?
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Economics Of Money Banking And Financial Markets
Authors: Frederic Mishkin
10th Global Edition
0273765736, 978-0273765738
