Question
Construct an amortization schedule for a six-year, RM20,000 loan at 7% interest compounded annually a) If the first payment is made one year from now.
Construct an amortization schedule for a six-year, RM20,000 loan at 7% interest compounded annually
a) If the first payment is made one year from now.
Ans: P = RM 4,195.92
b) If the first payment is made immediately.
Ans: P = RM 3,921.42
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Introduction To Finance
Authors: Lawrence J Gitman, Jeff Madura
1st Edition
0201635372, 9780201635379
