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Posted on Jul 19, 2024

Akuse Tours company secures a loan of GHS200,000 over 2 years at 10.5% compounded quarterly year to purchase more tour buses for the upcoming Christmas

Akuse Tours company secures a loan of GHS200,000 over 2 years at 10.5% compounded quarterly year to purchase more tour buses for the upcoming Christmas festivities.

Requirements:

a. Compute the quarterly installment the entity will be required to pay.

b. Prepare a spreadsheet model indicating the installment and the loan amortization schedule.

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